NBT Bancorp Inc. (NBTB) Sets New 52-Week High at $32.45
NBT Bancorp Inc. (NASDAQ:NBTB) shares reached a new 52-week high during trading on Thursday . The company traded as high as $32.45 and last traded at $32.20, with a volume of 38,980 shares trading hands. The stock had previously closed at $32.29.
A number of research firms have commented on NBTB. Zacks Investment Research upgraded shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Friday, July 29th. Keefe, Bruyette & Woods increased their price objective on shares of NBT Bancorp from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Friday, July 29th.
The firm’s 50-day moving average is $30.73 and its 200 day moving average is $28.46. The firm has a market cap of $1.40 billion and a PE ratio of 18.34.
NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. During the same period in the previous year, the business posted $0.43 earnings per share. The company earned $95.39 million during the quarter. NBT Bancorp’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that NBT Bancorp Inc. will post $1.80 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be given a $0.23 dividend. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.83%.
In related news, EVP Jeffrey M. Levy sold 31,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $29.83, for a total value of $924,730.00. Following the completion of the transaction, the executive vice president now directly owns 57,139 shares in the company, valued at approximately $1,704,456.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Martin A. Dietrich sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $29.78, for a total value of $744,500.00. Following the completion of the transaction, the chief executive officer now owns 187,815 shares of the company’s stock, valued at $5,593,130.70. The disclosure for this sale can be found here.
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and other subsidiaries, which provide commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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