NBT Bancorp Inc. (NASDAQ:NBTB) Plans Quarterly Dividend of $0.40

NBT Bancorp Inc. (NASDAQ:NBTB) announced a quarterly dividend on Tuesday, October 27th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.40 per share by the bank on Tuesday, December 15th. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, December 1st.

NBT Bancorp has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. NBT Bancorp has a payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NBT Bancorp to earn $4.55 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 35.2%.

NBT Bancorp Trading Down 1.0%

NBTB opened at $52.58 on Wednesday. The business’s 50-day moving average is $51.34 and its two-hundred day moving average is $47.54. NBT Bancorp has a 1 year low of $39.44 and a 1 year high of $54.50.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Tuesday, October 27th. The bank reported $1.11 EPS for the quarter, topping the consensus estimate of $1.09 by $0.02. The company had revenue of $195.03 million for the quarter, compared to analyst estimates of $193.83 million. As a group, research analysts anticipate that NBT Bancorp will post 4.17 EPS for the current fiscal year.

Hedge Funds Weigh In On NBT Bancorp

Several hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in NBT Bancorp in the second quarter worth about $32,000. Bessemer Group Inc. raised its holdings in shares of NBT Bancorp by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after purchasing an additional 324 shares in the last quarter. Western Wealth Management LLC acquired a new stake in NBT Bancorp during the first quarter valued at approximately $37,000. Nykredit A S bought a new stake in NBT Bancorp during the second quarter worth approximately $45,000. Finally, Global Retirement Partners LLC acquired a new position in NBT Bancorp in the second quarter worth approximately $49,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Company Profile

NBT Bancorp Inc is the bank holding company for NBT Bank, a community banking institution headquartered in Norwich, New York. Through NBT Bank and its subsidiaries, the company provides banking, lending, investment, insurance and financial services to consumers, businesses, nonprofit organizations and municipalities.

NBT Bank offers checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, business lending, cash-management services and agricultural financing.