NBT Bancorp Inc. (NASDAQ:NBTB) Director Sells $500,600.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Jack H. Webb sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $50.06, for a total value of $500,600.00. Following the sale, the director now owns 45,018 shares in the company, valued at approximately $2,253,601.08. This represents a 18.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NBT Bancorp Stock Performance

NASDAQ NBTB traded up $0.85 on Monday, reaching $51.30. The stock had a trading volume of 147,051 shares, compared to its average volume of 204,121. NBT Bancorp Inc. has a 1-year low of $32.79 and a 1-year high of $52.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $2.42 billion, a P/E ratio of 17.76 and a beta of 0.49. The firm has a fifty day moving average of $45.81 and a two-hundred day moving average of $43.21.

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

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 annualized dividend and a yield of 2.65%. NBT Bancorp’s dividend payout ratio is presently 47.89%.

Institutional Trading of NBT Bancorp

A number of institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in NBT Bancorp by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock valued at $88,675,000 after purchasing an additional 46,498 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of NBT Bancorp by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock worth $49,477,000 after acquiring an additional 10,628 shares in the last quarter. Deprince Race & Zollo Inc. increased its stake in NBT Bancorp by 14.9% in the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock valued at $31,978,000 after acquiring an additional 107,404 shares during the last quarter. Victory Capital Management Inc. raised its position in NBT Bancorp by 540.2% during the second quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock valued at $27,147,000 after purchasing an additional 593,436 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in NBT Bancorp by 36.7% during the second quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock worth $24,307,000 after purchasing an additional 169,180 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NBTB has been the subject of a number of analyst reports. StockNews.com raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Stephens reiterated an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.