NBT Bancorp (NASDAQ:NBTB) Director Timothy Delaney Acquires 22,730 Shares

NBT Bancorp Inc. (NASDAQ:NBTB) Director Timothy Delaney bought 22,730 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, January 28th. The stock was bought at an average cost of $42.97 per share, for a total transaction of $976,708.10. Following the purchase, the director owned 74,615 shares in the company, valued at $3,206,206.55. This represents a 43.81% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

NBT Bancorp Stock Performance

Shares of NASDAQ:NBTB traded up $0.79 on Thursday, reaching $43.41. 108,526 shares of the company’s stock were exchanged, compared to its average volume of 196,977. The business’s 50-day moving average is $42.78 and its two-hundred day moving average is $42.30. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 13.16 and a beta of 0.50. NBT Bancorp Inc. has a fifty-two week low of $37.31 and a fifty-two week high of $49.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, January 26th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The business had revenue of $185.14 million during the quarter, compared to analysts’ expectations of $183.63 million. NBT Bancorp had a return on equity of 10.86% and a net margin of 18.67%. As a group, equities research analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, March 2nd. NBT Bancorp’s payout ratio is currently 49.33%.

Institutional Trading of NBT Bancorp

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after purchasing an additional 609 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in shares of NBT Bancorp during the second quarter valued at approximately $33,000. Larson Financial Group LLC boosted its position in NBT Bancorp by 13,316.7% during the third quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after acquiring an additional 799 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new position in NBT Bancorp in the 3rd quarter valued at $42,000. Finally, Allworth Financial LP purchased a new position in shares of NBT Bancorp during the 3rd quarter worth $46,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analysts Set New Price Targets

NBTB has been the subject of several research reports. DA Davidson cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Janney Montgomery Scott upgraded shares of NBT Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of NBT Bancorp in a report on Monday, December 29th. Finally, Piper Sandler set a $47.00 price target on NBT Bancorp and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

About NBT Bancorp

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.