NBT Bancorp Inc. (NASDAQ:NBTB) Director Jack H. Webb Sells 10,000 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Jack H. Webb sold 10,000 shares of NBT Bancorp stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $50.06, for a total value of $500,600.00. Following the completion of the sale, the director now owns 45,018 shares in the company, valued at approximately $2,253,601.08. This represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

NBT Bancorp Trading Up 1.1 %

NASDAQ NBTB opened at $50.99 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.41 billion, a PE ratio of 17.76 and a beta of 0.49. The stock’s 50 day moving average is $45.81 and its 200 day moving average is $43.21. NBT Bancorp Inc. has a twelve month low of $32.79 and a twelve month high of $52.31.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The company had revenue of $202.00 million during the quarter, compared to analyst estimates of $144.70 million. During the same period last year, the business earned $0.84 EPS. Research analysts forecast that NBT Bancorp Inc. will post 2.91 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.36 annualized dividend and a dividend yield of 2.67%. NBT Bancorp’s payout ratio is 47.89%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NBTB. Stephens reiterated an “equal weight” rating and issued a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. StockNews.com raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.60.

Institutional Trading of NBT Bancorp

Hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co boosted its holdings in NBT Bancorp by 8.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 46,791 shares of the bank’s stock worth $1,715,000 after acquiring an additional 3,661 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of NBT Bancorp by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,067 shares of the bank’s stock worth $1,470,000 after purchasing an additional 1,680 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in NBT Bancorp in the 1st quarter worth about $332,000. Louisiana State Employees Retirement System grew its position in NBT Bancorp by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock valued at $915,000 after purchasing an additional 400 shares during the last quarter. Finally, Ceredex Value Advisors LLC increased its stake in NBT Bancorp by 2.6% during the 2nd quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock valued at $8,473,000 after purchasing an additional 5,500 shares in the last quarter. 58.46% of the stock is owned by institutional investors.

About NBT Bancorp

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.