NBT Bancorp Inc. (NASDAQ:NBTB) announced a quarterly dividend on Monday, July 27th, Zacks reports. Investors of record on Tuesday, September 1st will be paid a dividend of 0.27 per share by the bank on Tuesday, September 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Monday, August 31st.
NBT Bancorp has increased its dividend by an average of 16.7% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. NBT Bancorp has a dividend payout ratio of 52.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect NBT Bancorp to earn $2.10 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 51.4%.
NASDAQ NBTB traded up $1.00 on Wednesday, reaching $30.71. 6,527 shares of the company’s stock traded hands, compared to its average volume of 136,993. The stock has a 50-day simple moving average of $29.96 and a 200 day simple moving average of $33.29. The stock has a market cap of $1.33 billion, a PE ratio of 14.04 and a beta of 0.67. NBT Bancorp has a 12 month low of $26.32 and a 12 month high of $41.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.88 and a quick ratio of 0.88.
A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of NBT Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Stephens initiated coverage on NBT Bancorp in a report on Monday, June 1st. They set an “equal weight” rating and a $35.00 price objective for the company. Finally, Zacks Investment Research upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 21st.
About NBT Bancorp
NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, direct loans, mortgages, business banking loans, and commercial loans; and residential real estate loans, as well as development loans.
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