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

NBT Bancorp Inc. (NASDAQ:NBTB) declared a quarterly dividend on Tuesday, May 19th. Stockholders of record on Monday, June 1st will be paid a dividend of 0.37 per share by the bank on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, June 1st.

NBT Bancorp has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 12 consecutive years. NBT Bancorp has a payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect NBT Bancorp to earn $4.46 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 33.2%.

NBT Bancorp Stock Up 0.0%

Shares of NBTB opened at $44.81 on Wednesday. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 12.77 and a beta of 0.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp has a 52 week low of $39.19 and a 52 week high of $46.92. The stock has a fifty day moving average of $43.58 and a 200-day moving average of $43.22.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. The firm had revenue of $184.48 million during the quarter, compared to the consensus estimate of $185.36 million. As a group, sell-side analysts anticipate that NBT Bancorp will post 4.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NBT Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of NBT Bancorp by 1,645.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after acquiring an additional 609 shares during the last quarter. Larson Financial Group LLC lifted its stake in NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after purchasing an additional 799 shares in the last quarter. Bessemer Group Inc. lifted its stake in 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 purchased a new stake in NBT Bancorp in the 1st quarter worth $37,000. Finally, Flagship Wealth Advisors LLC bought a new stake in shares of NBT Bancorp in the 3rd quarter worth about $42,000. Institutional investors own 58.46% of the company’s stock.

About NBT Bancorp

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.