NBT Bancorp Inc. (NBTB) Hits New 1-Year High at $32.45
NBT Bancorp Inc. (NASDAQ:NBTB)’s share price hit 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 equities analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on NBT Bancorp from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Friday, July 29th. Zacks Investment Research upgraded NBT Bancorp from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Friday, July 29th.
The company’s 50-day moving average price is $30.63 and its 200 day moving average price is $28.43. The firm has a market capitalization of $1.38 billion and a P/E ratio of 18.16.
NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, July 25th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $95.39 million for the quarter. During the same period in the previous year, the company earned $0.43 EPS. NBT Bancorp’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts expect that NBT Bancorp Inc. will post $1.80 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.85%. The ex-dividend date is Tuesday, August 30th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.22.
In other NBT Bancorp news, CEO Martin A. Dietrich sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $29.78, for a total transaction of $744,500.00. Following the completion of the transaction, the chief executive officer now owns 187,815 shares in the company, valued at approximately $5,593,130.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey M. Levy sold 31,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $29.83, for a total value of $924,730.00. Following the transaction, the executive vice president now owns 57,139 shares of the company’s stock, valued at approximately $1,704,456.37. 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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