NBT Bancorp Inc. (NASDAQ:NBTB) Director Sells $909,000.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director John H. Watt, Jr. sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the sale, the director now owns 143,101 shares in the company, valued at $6,503,940.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NBT Bancorp Stock Up 0.2 %

Shares of NBT Bancorp stock opened at $44.56 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 52-week low of $32.79 and a 52-week high of $50.83. The company has a market capitalization of $2.10 billion, a P/E ratio of 15.69 and a beta of 0.49. The company has a 50 day moving average of $45.22 and a 200 day moving average of $41.76.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period in the previous year, the company earned $0.84 EPS. As a group, research analysts forecast that NBT Bancorp Inc. will post 2.89 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.36 annualized dividend and a dividend yield of 3.05%. NBT Bancorp’s dividend payout ratio is currently 47.89%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NBTB. State Board of Administration of Florida Retirement System boosted its holdings in NBT Bancorp by 150.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank’s stock valued at $1,104,000 after purchasing an additional 19,661 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of 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 buying an additional 82,071 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of NBT Bancorp in the 2nd quarter valued at $1,974,000. Inspire Investing LLC grew its position in shares of NBT Bancorp by 6.9% in the 1st quarter. Inspire Investing LLC now owns 9,759 shares of the bank’s stock valued at $358,000 after buying an additional 634 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its stake in NBT Bancorp by 2.6% during the 2nd quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock worth $8,473,000 after acquiring an additional 5,500 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NBTB. StockNews.com raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday. Stephens reaffirmed an “equal weight” rating and set a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. Finally, Raymond James cut NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, NBT Bancorp 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.