NBT Bancorp Inc. (NASDAQ:NBTB) Director Sells $2,058,800.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Timothy E. Delaney sold 40,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the sale, the director now directly owns 38,853 shares of the company’s stock, valued at $1,999,763.91. This represents a 50.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB opened at $49.63 on Friday. The stock has a market cap of $2.34 billion, a PE ratio of 17.47 and a beta of 0.49. NBT Bancorp Inc. has a fifty-two week low of $32.79 and a fifty-two week high of $51.93. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a fifty day moving average of $45.24 and a 200-day moving average of $42.53.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same period in the previous year, the business earned $0.84 earnings per share. Equities research analysts anticipate that NBT Bancorp Inc. will post 2.91 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s payout ratio is 47.89%.

Hedge Funds Weigh In On NBT Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Paloma Partners Management Co purchased a new position in NBT Bancorp during the third quarter worth about $411,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in NBT Bancorp during the third quarter worth about $103,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NBT Bancorp by 1.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,670 shares of the bank’s stock worth $5,558,000 after buying an additional 1,681 shares in the last quarter. De Lisle Partners LLP purchased a new position in NBT Bancorp during the third quarter worth about $223,000. Finally, BNP Paribas Financial Markets grew its position in NBT Bancorp by 68.7% during the third quarter. BNP Paribas Financial Markets now owns 15,616 shares of the bank’s stock worth $691,000 after buying an additional 6,358 shares in the last quarter. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on NBTB. Raymond James downgraded NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. StockNews.com raised NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Stephens reissued an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.60.

NBT Bancorp Company Profile

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.