NBT Bancorp Inc. (NASDAQ:NBTB) Director Sells $1,343,400.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director V Daniel Robinson II sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $44.78, for a total value of $1,343,400.00. Following the sale, the director now directly owns 387,558 shares of the company’s stock, valued at $17,354,847.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

V Daniel Robinson II also recently made the following trade(s):

• On Friday, September 13th, V Daniel Robinson II sold 50,000 shares of NBT Bancorp stock. The shares were sold at an average price of $44.58, for a total transaction of $2,229,000.00.
• On Wednesday, September 11th, V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock. The stock was sold at an average price of $44.10, for a total value of $882,000.00.

NBT Bancorp Trading Up 0.6 %

NASDAQ NBTB traded up $0.27 during mid-day trading on Tuesday, hitting $45.35. The company’s stock had a trading volume of 113,440 shares, compared to its average volume of 201,402. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.86. NBT Bancorp Inc. has a 52-week low of $30.31 and a 52-week high of $50.83. The stock’s fifty day simple moving average is $46.00 and its two-hundred day simple moving average is $39.53. The firm has a market capitalization of $2.14 billion, a P/E ratio of 17.41 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. The firm had revenue of $194.00 million during the quarter, compared to analyst estimates of $139.02 million. During the same period last year, the business earned $0.80 EPS. Research analysts expect that NBT Bancorp Inc. will post 2.86 EPS for the current year.

NBT Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.34 dividend. The ex-dividend date was Friday, August 30th. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.00%. NBT Bancorp’s dividend payout ratio is currently 52.51%.

Analyst Upgrades and Downgrades

NBTB has been the topic of a number of research analyst reports. Stephens reissued an “equal weight” rating and set a $49.00 price objective on shares of NBT Bancorp in a report on Tuesday, September 10th. Raymond James cut NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, NBT Bancorp presently has a consensus rating of “Hold” and an average target price of $42.60.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors have recently modified their holdings of NBTB. Register Financial Advisors LLC bought a new position in NBT Bancorp in the 1st quarter worth about $27,000. Union Savings Bank increased its position in NBT Bancorp by 4,075.0% in the 1st quarter. Union Savings Bank now owns 4,843 shares of the bank’s stock valued at $178,000 after acquiring an additional 4,727 shares during the period. SG Americas Securities LLC bought a new stake in NBT Bancorp during the 1st quarter valued at $178,000. AQR Capital Management LLC bought a new stake in NBT Bancorp during the 2nd quarter valued at $214,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in NBT Bancorp in the first quarter worth about $332,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

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.