This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

10 Bank Stocks Ready for a 2012 Dividend Boost

3. NBT Bancorp

Shares of NBT Bancorp (NBTB) of Norwich, N.Y., closed at $20.94, for a year-to-date decline of 11%. Based on a quarterly dividend payout of 20 cents, the shares have a dividend yield of 3.82%.

The company had $5.5 billion in total assets as of Sept 30 with 128 branches in New York, Pennsylvania, Vermont and Massachusetts.

NBT last Wednesday announced it would expand further in New England, with an agreement to acquire Hampshire First Bank of Manchester, N.H., for $45 million in cash and stock. Hampshire First had $273 million in assets as of Sept. 30, with five offices. The deal is subject to approval by Hampshire First's shareholders and is expected to be completed in the second quarter of 2012.

Third-quarter earnings were $15.2 million, or45 cents a share, increasing from $14.7 million, or 43 cents a share, in the second quarter, and $14.6 million, or 42 cents a share, in the third quarter of 2010.

The provision for loan losses declined to $5.2 million in the third quarter, from $6.0 million the previous quarter, and $7.5 million a year earlier

Third-quarter net interest income was down slightly year-over-year, to $50.4 million The net interest margin declined to a tax-adjusted 4.14% from 4.15% a year earlier.

The third-quarter ROA was 1.13%, according to SNL Financial.

Guggenheim Securities analyst David Darst on Nov. 16 lowered his rating on NBT to neutral, given the recent improvement in the share price and valuation," which was close to the analyst's price target of $22.00. The analyst added that "near-term catalysts include potential M&A activity with a common raise," and said that the company could target the branches that First Niagara Financial Group (FNFG) will be forced to divest as part of its deal to acquire HSBC's (HBC) Upstate New York branch network.

The shares trade for 11.6 times the consensus 2012 EPS estimate of $1.81, among analysts polled by FactSet, and 1.7 times the company's reported Sept. 30 tangible book value of $12.24.

All three analysts covering NBT Bancorp have neutral ratings on the shares.

9 of 11

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs