NBT Bancorp (NASDAQ:NBTB) EVP Sells $233,000.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Ruth Mahoney sold 5,000 shares of NBT Bancorp stock in a transaction on Friday, June 5th. The shares were sold at an average price of $46.60, for a total value of $233,000.00. Following the sale, the executive vice president directly owned 16,428 shares of the company’s stock, valued at $765,544.80. This represents a 23.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $46.41 on Monday. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 13.22 and a beta of 0.49. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The business has a 50-day simple moving average of $44.78 and a 200 day simple moving average of $43.68. NBT Bancorp Inc. has a 52 week low of $39.19 and a 52 week high of $47.07.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). The business had revenue of $184.48 million for the quarter, compared to the consensus estimate of $185.36 million. NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. On average, research analysts forecast that NBT Bancorp Inc. will post 4.15 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. NBT Bancorp’s payout ratio is currently 42.17%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NBTB. DA Davidson restated a “buy” rating and set a $52.00 price objective on shares of NBT Bancorp in a research report on Monday, April 27th. Janney Montgomery Scott lowered shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Brean Capital cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Piper Sandler initiated coverage on NBT Bancorp in a research report on Monday, March 16th. They set an “overweight” rating and a $50.00 price target on the stock. Finally, Hovde Group dropped their price target on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.50.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors have recently made changes to their positions in the business. Tudor Investment Corp ET AL purchased a new position in shares of NBT Bancorp in the third quarter worth about $4,886,000. SG Americas Securities LLC lifted its stake in shares of NBT Bancorp by 195.7% in the 4th quarter. SG Americas Securities LLC now owns 71,852 shares of the bank’s stock valued at $2,983,000 after acquiring an additional 47,550 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in NBT Bancorp by 26.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock valued at $13,986,000 after acquiring an additional 70,594 shares during the period. Savant Capital LLC grew its position in NBT Bancorp by 168.4% during the 3rd quarter. Savant Capital LLC now owns 71,060 shares of the bank’s stock worth $2,967,000 after acquiring an additional 44,585 shares during the last quarter. Finally, Financial Planning Hawaii Inc. bought a new position in NBT Bancorp during the 4th quarter worth approximately $641,000. Hedge funds and other 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.