NBT Bancorp Inc. (NASDAQ:NBTB) declared a quarterly dividend on Monday, July 27th, Zacks reports. Stockholders 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 3.51%. The ex-dividend date is Monday, August 31st.
NBT Bancorp has raised its dividend payment 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 research 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%.
Shares of NASDAQ NBTB traded up $1.07 during mid-day trading on Wednesday, reaching $30.78. 6,461 shares of the company were exchanged, compared to its average volume of 136,993. NBT Bancorp has a 52 week low of $26.32 and a 52 week high of $41.50. The company’s 50 day moving average price is $29.96 and its 200 day moving average price is $33.29. The stock has a market capitalization of $1.33 billion, a PE ratio of 14.04 and a beta of 0.67. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.15.
Several research analysts have commented on NBTB shares. Zacks Investment Research raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 21st. BidaskClub cut shares of NBT Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Finally, Stephens assumed coverage on shares of NBT Bancorp in a research report on Monday, June 1st. They set an “equal weight” rating and a $35.00 price target for the company.
NBT Bancorp Company Profile
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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