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 company’s stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $48.45 per share, for a total transaction of $32,849.10. Following the completion of the acquisition, the director now directly owns 6,437 shares of the company’s stock, valued at $311,872.65. This trade represents a 11.77 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $48.55 on Friday. The firm has a market cap of $2.29 billion, a P/E ratio of 16.40 and a beta of 0.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $48.49 and its 200-day moving average is $47.12. NBT Bancorp Inc. has a 12-month low of $32.79 and a 12-month high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 prior year, the firm posted $0.72 EPS. Sell-side analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.34 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 2.80%. NBT Bancorp’s dividend payout ratio (DPR) is 45.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. DA Davidson assumed coverage on NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price on the stock. Stephens raised 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. Keefe, Bruyette & Woods boosted their target price 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. Finally, StockNews.com lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NBT Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after buying an additional 252 shares in the last quarter. US Bancorp DE purchased a new stake in NBT Bancorp in the 3rd quarter worth approximately $57,000. Quest Partners LLC bought a new position in NBT Bancorp in the 3rd quarter valued at $57,000. Rialto Wealth Management LLC purchased a new position in shares of NBT Bancorp during the 4th quarter valued at $87,000. Finally, Crews Bank & Trust bought a new position in shares of NBT Bancorp in the fourth quarter worth $98,000. Hedge funds and other institutional investors 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.