NBT Bancorp (NASDAQ:NBTB) Director Sells $100,863.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Heidi Hoeller sold 2,100 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $48.03, for a total value of $100,863.00. Following the transaction, the director directly owned 11,560 shares of the company’s stock, valued at $555,226.80. This represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

NBT Bancorp Price Performance

NBTB stock opened at $48.18 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $2.51 billion, a P/E ratio of 13.73 and a beta of 0.49. The business has a 50-day moving average of $45.27 and a 200-day moving average of $43.92. NBT Bancorp Inc. has a fifty-two week low of $39.19 and a fifty-two week high of $48.26.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The company had revenue of $184.48 million for the quarter, compared to the consensus estimate of $185.36 million. On average, sell-side analysts anticipate that NBT Bancorp Inc. will post 4.15 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.48 annualized dividend and a yield of 3.1%. NBT Bancorp’s dividend payout ratio is 42.17%.

Hedge Funds Weigh In On NBT Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC boosted its holdings in shares of NBT Bancorp by 564.1% during the 3rd quarter. Millennium Management LLC now owns 248,050 shares of the bank’s stock valued at $10,359,000 after acquiring an additional 210,699 shares in the last quarter. State Street Corp boosted its holdings in shares of NBT Bancorp by 7.8% during the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after acquiring an additional 182,793 shares in the last quarter. Nuveen LLC boosted its holdings in shares of NBT Bancorp by 171.0% during the 4th quarter. Nuveen LLC now owns 286,107 shares of the bank’s stock valued at $11,879,000 after acquiring an additional 180,528 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of NBT Bancorp by 63.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock valued at $18,741,000 after acquiring an additional 174,639 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of NBT Bancorp during the 3rd quarter valued at $4,886,000. Institutional investors own 58.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler began coverage on NBT Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $50.00 price objective on the stock. Weiss Ratings upgraded NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Janney Montgomery Scott lowered NBT Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, February 23rd. DA Davidson reiterated a “buy” rating and issued a $52.00 price target on shares of NBT Bancorp in a research note on Monday, April 27th. Finally, Brean Capital lowered NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.

NBT Bancorp Company Profile

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.