Timothy E. Delaney Sells 40,000 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Timothy E. Delaney sold 40,000 shares of NBT Bancorp stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the transaction, the director now directly owns 38,853 shares in the company, valued at $1,999,763.91. This represents a 50.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NBT Bancorp Trading Down 0.7 %

NBTB opened at $49.26 on Friday. The firm’s 50 day moving average is $45.29 and its 200-day moving average is $42.58. NBT Bancorp Inc. has a 52-week low of $32.79 and a 52-week high of $51.93. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.32 billion, a P/E ratio of 17.35 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results 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 firm had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same quarter in the previous year, the firm posted $0.84 EPS. Analysts expect that NBT Bancorp Inc. will post 2.91 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.76%. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

Hedge Funds Weigh In On NBT Bancorp

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in shares of NBT Bancorp by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock worth $88,675,000 after buying an additional 46,498 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in NBT Bancorp by 14.9% during 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 during the last quarter. Victory Capital Management Inc. grew its holdings in NBT Bancorp by 540.2% during the 2nd quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock worth $27,147,000 after acquiring an additional 593,436 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of NBT Bancorp by 36.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock worth $24,307,000 after purchasing an additional 169,180 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of NBT Bancorp by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 585,636 shares of the bank’s stock valued at $25,903,000 after purchasing an additional 7,294 shares in the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on NBTB shares. StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Stephens reissued an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. Finally, Raymond James cut shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.