NBT Bancorp (NASDAQ:NBTB) EVP Sarah Halliday Sells 9,000 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Sarah Halliday sold 9,000 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $54.04, for a total transaction of $486,360.00. Following the completion of the sale, the executive vice president owned 22,054 shares of the company’s stock, valued at $1,191,798.16. The trade was a 28.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

NBT Bancorp Stock Performance

Shares of NBTB opened at $52.93 on Friday. The company has a market capitalization of $2.75 billion, a PE ratio of 12.94 and a beta of 0.48. 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’s fifty day moving average price is $49.00 and its 200 day moving average price is $45.72.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, July 27th. The bank reported $1.01 earnings per share 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 firm had revenue of $186.69 million for the quarter, compared to analyst estimates of $188.81 million. As a group, analysts expect that NBT Bancorp Inc. will post 4.13 earnings per share for the current year.

NBT Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given 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 a boost from NBT Bancorp’s previous quarterly dividend of $0.37. NBT Bancorp’s payout ratio is presently 36.19%.

Institutional Investors Weigh In On NBT Bancorp

Several hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC grew its holdings in shares of NBT Bancorp by 4.2% during the 1st quarter. Private Advisor Group LLC now owns 5,809 shares of the bank’s stock worth $247,000 after purchasing an additional 233 shares in the last quarter. Ascent Wealth Partners LLC raised its stake in shares of NBT Bancorp by 6.1% in the first quarter. Ascent Wealth Partners LLC now owns 5,353 shares of the bank’s stock valued at $228,000 after purchasing an additional 309 shares in the last quarter. Inspire Investing LLC raised its stake in shares of NBT Bancorp by 2.9% in the fourth quarter. Inspire Investing LLC now owns 11,257 shares of the bank’s stock valued at $467,000 after purchasing an additional 315 shares in the last quarter. Bessemer Group Inc. lifted its position in NBT Bancorp by 63.8% in the first 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 lifted its position in NBT Bancorp by 1.4% in the fourth quarter. State of Alaska Department of Revenue now owns 28,929 shares of the bank’s stock worth $1,200,000 after purchasing an additional 397 shares during the period. Institutional investors own 58.46% of the company’s stock.

More NBT Bancorp News

Here are the key news stories impacting NBT Bancorp this week:

• Positive Sentiment: NBT Bancorp recently reached a new 12-month high following a dividend announcement, suggesting investors viewed the higher payout favorably. NBT Bancorp Hits New 12-Month High After Dividend Announcement
• Positive Sentiment: Management’s second-quarter earnings call highlighted robust momentum, while the company’s dividend increase provides an additional income-oriented attraction for shareholders. NBT Bancorp Earnings Call Highlights Robust Momentum
• Neutral Sentiment: Institutional ownership changes were mixed: Bank of New York Mellon reduced its position by 2.2%, while Fifth Third Bancorp reported a significant percentage increase from a small existing base. These filings indicate limited near-term conviction because they reflect earlier-quarter activity. Bank of New York Mellon Holdings
• Negative Sentiment: Stephens downgraded NBT Bancorp from “overweight” to “equal weight.” Although its price target increased to $55 from $52, the new rating indicates the firm believes much of the upside has already been reflected in the share price.
• Negative Sentiment: Two executive vice presidents sold a combined 13,500 shares for approximately $730,710. Each transaction reduced the respective executive’s ownership by more than 27%, potentially raising concerns about insider confidence, although the sales may also reflect personal financial planning. Sarah A. Halliday SEC Filing Ruth H. Mahoney SEC Filing
• Negative Sentiment: Recent coverage characterized NBT Bancorp as fully valued after its second-quarter results and dividend hike. The bank narrowly missed quarterly earnings and revenue expectations, reporting $1.01 in earnings per share versus a $1.02 consensus and $186.69 million in revenue versus $188.81 million expected. NBT Bancorp Looks Fully Valued After Q2 Earnings and Dividend Hike

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NBTB. Hovde Group lowered their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a report on Monday, April 27th. DA Davidson upped their price target on NBT Bancorp from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of NBT Bancorp in a research report on Tuesday, July 21st. Stephens downgraded shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $52.00 to $55.00 in a research note on Thursday. Finally, Piper Sandler boosted their target price on shares of NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $54.12.

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.