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

NBT Bancorp Inc. (NASDAQ:NBTB) Director Heidi M. Hoeller purchased 678 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $48.45 per share, with a total value of $32,849.10. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NBT Bancorp Price Performance

Shares of NBTB stock traded down $0.35 during mid-day trading on Friday, hitting $48.67. The company had a trading volume of 112,316 shares, compared to its average volume of 202,869. The company has a market capitalization of $2.30 billion, a P/E ratio of 16.44 and a beta of 0.52. The stock’s 50 day moving average price is $48.49 and its 200-day moving average price is $47.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. NBT Bancorp Inc. has a 52-week low of $32.79 and a 52-week high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing the consensus estimate 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 company posted $0.72 earnings per share. Equities research analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Monday, March 3rd. NBT Bancorp’s dividend payout ratio is currently 45.95%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On NBT Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new stake in shares of NBT Bancorp during the 2nd quarter worth approximately $214,000. GAMMA Investing LLC increased its stake in NBT Bancorp by 47.9% during the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after purchasing an additional 252 shares during the period. Inspire Investing LLC increased its stake in NBT Bancorp by 3.7% during the third quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock worth $415,000 after purchasing an additional 331 shares during the period. Raymond James & Associates grew its position in shares of NBT Bancorp by 3.9% during the third quarter. Raymond James & Associates now owns 95,062 shares of the bank’s stock worth $4,205,000 after buying an additional 3,540 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of NBT Bancorp by 3.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 144,642 shares of the bank’s stock worth $6,398,000 after buying an additional 5,235 shares in the last quarter. 58.46% of the stock is owned by hedge funds and other 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.