NBT Bancorp Inc. (NASDAQ:NBTB) announced a quarterly dividend on Tuesday, October 24th, Wall Street Journal reports. Shareholders of record on Friday, December 1st will be paid a dividend of 0.23 per share by the bank on Friday, December 15th. This represents a $0.92 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, November 30th.

Shares of NBT Bancorp (NBTB) traded up 2.90% during mid-day trading on Tuesday, reaching $38.65. 142,488 shares of the company’s stock were exchanged. The company’s 50 day moving average is $35.82 and its 200 day moving average is $36.19. NBT Bancorp has a 1-year low of $31.28 and a 1-year high of $42.56. The stock has a market capitalization of $1.68 billion, a PE ratio of 20.78 and a beta of 0.91.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, October 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The business had revenue of $102.71 million for the quarter, compared to the consensus estimate of $101.31 million. NBT Bancorp had a net margin of 19.68% and a return on equity of 8.81%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. Equities research analysts anticipate that NBT Bancorp will post $1.95 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/24/nbt-bancorp-inc-nbtb-announces-0-23-quarterly-dividend.html.

A number of brokerages have recently commented on NBTB. ValuEngine upgraded shares of NBT Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Piper Jaffray Companies reiterated a “hold” rating and issued a $35.00 target price on shares of NBT Bancorp in a research report on Wednesday, July 26th. BidaskClub cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.50 target price on shares of NBT Bancorp in a research report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $35.88.

NBT Bancorp announced that its Board of Directors has approved a share buyback plan on Monday, October 23rd that allows the company to repurchase 1,000,000 shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

NBT Bancorp Company Profile

NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.

Dividend History for NBT Bancorp (NASDAQ:NBTB)

Receive News & Ratings for NBT Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NBT Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.