Heidi M. Hoeller Buys 678 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Heidi M. Hoeller acquired 678 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $48.45 per share, with a total value of $32,849.10. Following the transaction, the director now owns 6,437 shares in the company, valued at approximately $311,872.65. This trade represents a 11.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

NBT Bancorp Stock Performance

NASDAQ:NBTB opened at $48.55 on Monday. The stock has a 50-day moving average price of $48.46 and a 200 day moving average price of $47.12. The stock has a market capitalization of $2.29 billion, a P/E ratio of 16.40 and a beta of 0.52. NBT Bancorp Inc. has a 12-month low of $32.79 and a 12-month high of $52.44. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter in the previous year, the business earned $0.72 EPS. Equities research analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 2.80%. NBT Bancorp’s dividend payout ratio is currently 45.95%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of NBT Bancorp in the fourth quarter worth about $23,651,000. Assenagon Asset Management S.A. bought a new stake in NBT Bancorp in the 4th quarter worth approximately $12,007,000. Eagle Asset Management Inc. raised its holdings in shares of NBT Bancorp by 76.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock worth $16,759,000 after acquiring an additional 163,952 shares in the last quarter. Ceredex Value Advisors LLC boosted its position in shares of NBT Bancorp by 40.9% during the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock valued at $13,680,000 after acquiring an additional 89,800 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of NBT Bancorp by 55.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock valued at $9,946,000 after purchasing an additional 80,232 shares in the last quarter. Institutional investors own 58.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NBTB shares. Keefe, Bruyette & Woods boosted their price target on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a report on Wednesday, January 29th. Finally, DA Davidson initiated coverage on shares of NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NBT Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $51.75.

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.