V Daniel Robinson II Sells 30,000 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director V Daniel Robinson II sold 30,000 shares of NBT Bancorp stock in a transaction on Monday, September 16th. The stock was sold at an average price of $44.78, for a total transaction of $1,343,400.00. Following the sale, the director now owns 387,558 shares in the company, valued at approximately $17,354,847.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

V Daniel Robinson II also recently made the following trade(s):

• On Friday, September 13th, V Daniel Robinson II sold 50,000 shares of NBT Bancorp stock. The stock was sold at an average price of $44.58, for a total transaction of $2,229,000.00.
• On Wednesday, September 11th, V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock. The shares were sold at an average price of $44.10, for a total transaction of $882,000.00.

NBT Bancorp Price Performance

Shares of NBT Bancorp stock opened at $45.18 on Thursday. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 17.44 and a beta of 0.50. The firm’s 50-day moving average price is $46.24 and its two-hundred day moving average price is $39.65. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 1-year low of $30.31 and a 1-year high of $50.83.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. The business had revenue of $194.00 million for the quarter, compared to the consensus estimate of $139.02 million. During the same quarter last year, the company earned $0.80 earnings per share. On average, equities analysts predict that NBT Bancorp Inc. will post 2.86 earnings per share for the current fiscal year.

NBT Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.01%. NBT Bancorp’s dividend payout ratio (DPR) is 52.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBTB. Deprince Race & Zollo Inc. increased its position in NBT Bancorp by 14.9% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock valued at $31,978,000 after acquiring an additional 107,404 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of NBT Bancorp during the second quarter worth approximately $214,000. Public Sector Pension Investment Board grew its stake in shares of NBT Bancorp by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 103,705 shares of the bank’s stock valued at $4,003,000 after purchasing an additional 7,183 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in shares of NBT Bancorp by 49.6% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 28,213 shares of the bank’s stock valued at $1,089,000 after purchasing an additional 9,349 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in NBT Bancorp in the 2nd quarter worth approximately $1,974,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NBTB. Stephens reaffirmed an “equal weight” rating and set a $49.00 price objective on shares of NBT Bancorp in a report on Tuesday, September 10th. Raymond James downgraded NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, NBT Bancorp currently has an average 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.