NBT Bancorp (NASDAQ:NBTB) EVP Sells 4,500 Shares

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Ruth Mahoney sold 4,500 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $54.30, for a total value of $244,350.00. Following the transaction, the executive vice president directly owned 11,928 shares in the company, valued at approximately $647,690.40. This represents a 27.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

NBT Bancorp Stock Performance

Shares of NBTB stock traded down $0.77 during trading on Thursday, reaching $53.49. The company had a trading volume of 199,705 shares, compared to its average volume of 291,153. The firm’s 50 day simple moving average is $48.86 and its two-hundred day simple moving average is $45.65. NBT Bancorp Inc. has a one year low of $39.19 and a one year high of $54.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $2.78 billion, a PE ratio of 13.08 and a beta of 0.48.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, July 27th. The bank reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%.The company had revenue of $186.69 million for the quarter, compared to the consensus estimate of $188.81 million. Sell-side analysts forecast that NBT Bancorp Inc. will post 4.14 earnings per share for the current year.

NBT Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.37. NBT Bancorp’s payout ratio is currently 39.12%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Stephens downgraded shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $52.00 to $55.00 in a report on Thursday. Hovde Group cut their target price on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research report on Monday, April 27th. Piper Sandler upped their price target on shares of NBT Bancorp from $50.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, June 26th. DA Davidson raised their price target on NBT Bancorp from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of NBT Bancorp in a research note on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, NBT Bancorp currently has an average rating of “Hold” and a consensus target price of $54.12.

Hedge Funds Weigh In On NBT Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of NBTB. Private Advisor Group LLC raised its stake in NBT Bancorp by 4.2% during the 1st quarter. Private Advisor Group LLC now owns 5,809 shares of the bank’s stock valued at $247,000 after purchasing an additional 233 shares during the last quarter. Ascent Wealth Partners LLC grew its position in NBT Bancorp by 6.1% in the 1st quarter. Ascent Wealth Partners LLC now owns 5,353 shares of the bank’s stock worth $228,000 after purchasing an additional 309 shares during the last quarter. Inspire Investing LLC grew its position in NBT Bancorp by 2.9% in the 4th quarter. Inspire Investing LLC now owns 11,257 shares of the bank’s stock worth $467,000 after purchasing an additional 315 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of NBT Bancorp by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after purchasing an additional 324 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of NBT Bancorp by 1.4% during the fourth quarter. State of Alaska Department of Revenue now owns 28,929 shares of the bank’s stock valued at $1,200,000 after buying an additional 397 shares during the last quarter. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company Profile

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.