V Daniel Robinson II Sells 20,000 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director V Daniel Robinson II sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total value of $882,000.00. Following the sale, the director now owns 517,558 shares in the company, valued at approximately $22,824,307.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NBT Bancorp Price Performance

NBTB stock opened at $44.83 on Friday. The business has a 50 day moving average price of $45.86 and a 200 day moving average price of $39.42. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 17.31 and a beta of 0.50. NBT Bancorp Inc. has a fifty-two week low of $30.31 and a fifty-two week high of $50.83.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. The company had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $139.02 million. During the same quarter in the prior year, the firm posted $0.80 EPS. Equities research analysts anticipate that NBT Bancorp Inc. will post 2.86 earnings per share for the current fiscal year.

NBT Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.03%. The ex-dividend date was Friday, August 30th. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.32. NBT Bancorp’s dividend payout ratio is currently 52.51%.

Hedge Funds Weigh In On NBT Bancorp

Hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its stake in NBT Bancorp by 150.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank’s stock worth $1,104,000 after buying an additional 19,661 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of NBT Bancorp during the first quarter worth approximately $796,000. Charles Schwab Investment Management Inc. grew its position in shares of NBT Bancorp by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 530,209 shares of the bank’s stock worth $22,221,000 after acquiring an additional 25,528 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of NBT Bancorp in the 4th quarter valued at $11,434,000. Finally, Russell Investments Group Ltd. boosted its stake in NBT Bancorp by 978.7% during the 1st quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock worth $3,318,000 after purchasing an additional 82,071 shares during the period. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Analyst Ratings Changes

NBTB has been the topic of a number of recent research reports. Stephens restated an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. Raymond James downgraded shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.60.

About NBT Bancorp

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.