NBT Bancorp (NASDAQ:NBTB) EVP Sells $486,360.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Sarah Halliday sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $54.04, for a total transaction of $486,360.00. Following the sale, the executive vice president owned 22,054 shares of the company’s stock, valued at approximately $1,191,798.16. The trade was a 28.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

NBT Bancorp Trading Down 1.4%

NBTB stock traded down $0.77 during midday trading on Thursday, hitting $53.49. 199,705 shares of the company’s stock were exchanged, compared to its average volume of 291,153. The business has a 50-day simple moving average of $48.86 and a two-hundred day simple moving average of $45.65. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $2.78 billion, a PE ratio of 13.08 and a beta of 0.48. NBT Bancorp Inc. has a 1-year low of $39.19 and a 1-year high of $54.50.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, July 27th. The bank reported $1.01 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.01). NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%.The company had revenue of $186.69 million during the quarter, compared to analyst estimates of $188.81 million. On average, sell-side analysts predict that NBT Bancorp Inc. will post 4.14 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.37. NBT Bancorp’s dividend payout ratio is 39.12%.

Institutional Trading of NBT Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in NBT Bancorp by 7.8% during the second quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock worth $105,177,000 after buying an additional 182,793 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of NBT Bancorp by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,330,975 shares of the bank’s stock valued at $99,252,000 after acquiring an additional 30,141 shares during the period. Victory Capital Management Inc. raised its position in NBT Bancorp by 2.0% in the 4th quarter. Victory Capital Management Inc. now owns 663,092 shares of the bank’s stock valued at $27,532,000 after purchasing an additional 12,967 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in NBT Bancorp by 29.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 560,259 shares of the bank’s stock worth $23,856,000 after purchasing an additional 128,316 shares during the period. Finally, Nuveen LLC boosted its stake in NBT Bancorp by 171.0% during the 4th quarter. Nuveen LLC now owns 286,107 shares of the bank’s stock worth $11,879,000 after purchasing an additional 180,528 shares during the period. 58.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NBTB has been the subject of several recent analyst reports. DA Davidson lifted their price objective on shares of NBT Bancorp from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday. Stephens lowered NBT Bancorp from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $52.00 to $55.00 in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of NBT Bancorp in a research note on Tuesday, July 21st. Hovde Group decreased their price target on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a report on Monday, April 27th. Finally, Piper Sandler upped their price objective on NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $54.12.

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.