NBT Bancorp Inc. (NASDAQ:NBTB) to Issue Quarterly Dividend of $0.37

by · The Markets Daily

NBT Bancorp Inc. (NASDAQ:NBTB – Get Free Report) declared a quarterly dividend on Monday, January 26th. Shareholders of record on Monday, March 2nd will be paid a dividend of 0.37 per share by the bank on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, March 2nd.

NBT Bancorp has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 12 consecutive years. NBT Bancorp has a dividend payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect NBT Bancorp to earn $4.40 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 33.6%.

NBT Bancorp Trading Down 0.5%

Shares of NBT Bancorp stock traded down $0.23 during mid-day trading on Tuesday, hitting $43.68. The stock had a trading volume of 19,687 shares, compared to its average volume of 173,014. The firm has a 50-day moving average of $42.64 and a two-hundred day moving average of $42.30. The firm has a market cap of $2.29 billion, a P/E ratio of 14.56 and a beta of 0.50. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.10. NBT Bancorp has a 12-month low of $37.31 and a 12-month high of $49.18.

NBT Bancorp (NASDAQ:NBTB – Get Free Report) last issued its quarterly earnings data on Monday, January 26th. The bank reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. NBT Bancorp had a return on equity of 10.35% and a net margin of 17.24%.The company had revenue of $185.14 million during the quarter, compared to analyst estimates of $183.63 million. Sell-side analysts forecast that NBT Bancorp will post 3.69 earnings per share for the current year.

Insider Buying and Selling at NBT Bancorp

In related news, Director Timothy E. Delaney acquired 10,000 shares of NBT Bancorp stock in a transaction dated Thursday, November 6th. The shares were acquired at an average cost of $40.98 per share, for a total transaction of $409,800.00. Following the completion of the purchase, the director owned 51,885 shares in the company, valued at approximately $2,126,247.30. The trade was a 23.87% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.03% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. PL Capital Advisors LLC purchased a new stake in shares of NBT Bancorp during the 2nd quarter worth approximately $16,326,000. Millennium Management LLC grew its holdings in shares of NBT Bancorp by 564.1% during the third quarter. Millennium Management LLC now owns 248,050 shares of the bank’s stock worth $10,359,000 after buying an additional 210,699 shares during the last quarter. State Street Corp increased its holdings in shares of NBT Bancorp by 7.8% in the second quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after purchasing an additional 182,793 shares during the period. The Manufacturers Life Insurance Company raised its holdings in NBT Bancorp by 63.2% during the second quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock worth $18,741,000 after purchasing an additional 174,639 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of NBT Bancorp during the 2nd quarter worth approximately $6,286,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

About NBT Bancorp

(Get Free Report)

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.

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