NBT Bancorp (NASDAQ:NBTB) Sets New 52-Week High After Dividend Announcement

NBT Bancorp Inc. (NASDAQ:NBTB) shares hit a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $53.48 and last traded at $53.4810, with a volume of 221693 shares changing hands. The stock had previously closed at $52.52.

The newly announced dividend which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.0%. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, September 1st. NBT Bancorp’s dividend payout ratio is presently 42.17%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NBTB shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NBT Bancorp in a research report on Tuesday, July 21st. Piper Sandler boosted their target price on NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Hovde Group reduced their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a report on Monday, April 27th. Finally, DA Davidson reaffirmed a “buy” rating and set a $52.00 price target on shares of NBT Bancorp in a research report on Monday, April 27th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.50.

NBT Bancorp Price Performance

The firm has a 50 day moving average price of $48.51 and a two-hundred day moving average price of $45.50. The company has a market cap of $2.78 billion, a P/E ratio of 15.22 and a beta of 0.48. 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 (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, July 27th. The bank reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). The firm had revenue of $186.69 million during the quarter, compared to the consensus estimate of $188.81 million. NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. On average, analysts predict that NBT Bancorp Inc. will post 4.14 EPS for the current fiscal year.

More NBT Bancorp News

Here are the key news stories impacting NBT Bancorp this week:

• Positive Sentiment: NBT Bancorp raised its quarterly dividend by 8.1% to $0.40 per share from $0.37. The dividend implies an annualized payout of $1.60 and a yield of approximately 3.0%, signaling confidence in the bank’s capital position and supporting the stock’s income appeal. The ex-dividend date and record date are September 1, with payment scheduled for September 15. NBT Bancorp Second Quarter Results and Dividend Increase
• Positive Sentiment: Second-quarter diluted EPS rose to $1.01 from $0.88 a year earlier, while net margin was 19.59% and return on equity was 11.06%. The year-over-year earnings growth provides a favorable fundamental backdrop despite the quarterly estimate miss. NBT Q2 Earnings Snapshot
• Neutral Sentiment: The stock was trading near its 52-week high, with its 50-day and 200-day moving averages below the current market level. This indicates strong recent momentum, although the relatively low trading volume suggests the move may not reflect broad investor participation.
• Negative Sentiment: NBT Bancorp reported quarterly EPS of $1.01, narrowly below the $1.02 consensus estimate. Revenue of $186.69 million also fell short of the $188.81 million estimate, creating a modest near-term earnings overhang. NBT Bancorp Lags Q2 Earnings and Revenue Estimates

Insider Activity at NBT Bancorp

In related news, EVP Ruth H. Mahoney sold 5,000 shares of NBT Bancorp stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $46.60, for a total value of $233,000.00. Following the completion of the transaction, the executive vice president directly owned 16,428 shares in the company, valued at approximately $765,544.80. The trade was a 23.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Heidi M. Hoeller sold 2,100 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $48.03, for a total transaction of $100,863.00. Following the sale, the director directly owned 11,560 shares in the company, valued at $555,226.80. The trade was a 15.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.99% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its position in shares of NBT Bancorp by 22.3% in the first quarter. Royal Bank of Canada now owns 40,303 shares of the bank’s stock valued at $1,729,000 after purchasing an additional 7,349 shares in the last quarter. AQR Capital Management LLC boosted its stake in NBT Bancorp by 45.0% in the 1st quarter. AQR Capital Management LLC now owns 13,630 shares of the bank’s stock worth $585,000 after purchasing an additional 4,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NBT Bancorp by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,388 shares of the bank’s stock valued at $1,175,000 after buying an additional 1,197 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of NBT Bancorp by 15.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 165,550 shares of the bank’s stock valued at $7,102,000 after buying an additional 22,655 shares during the period. Finally, Jane Street Group LLC increased its position in shares of NBT Bancorp by 1,188.4% during the first quarter. Jane Street Group LLC now owns 88,284 shares of the bank’s stock valued at $3,787,000 after buying an additional 81,432 shares during the period. 58.46% of the stock is owned by institutional investors.

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.