Insider Buying: NBT Bancorp Inc. (NASDAQ:NBTB) Director Acquires 678 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Heidi M. Hoeller acquired 678 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was bought at an average price of $48.45 per share, with a total value of $32,849.10. Following the acquisition, the director now directly owns 6,437 shares of the company’s stock, valued at $311,872.65. The trade was 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 hyperlink.

NBT Bancorp Stock Down 0.7 %

Shares of NBTB traded down $0.35 during mid-day trading on Friday, reaching $48.67. The company had a trading volume of 112,316 shares, compared to its average volume of 202,869. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 16.44 and a beta of 0.52. NBT Bancorp Inc. has a 52 week low of $32.79 and a 52 week high of $52.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a 50-day moving average price of $48.49 and a 200 day moving average price of $47.12.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, January 27th. The bank reported $0.77 earnings per share 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 previous year, the business earned $0.72 EPS. On average, sell-side analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Monday, March 3rd. NBT Bancorp’s dividend payout ratio is currently 45.95%.

Institutional Trading of NBT Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after acquiring an additional 252 shares in the last quarter. US Bancorp DE purchased a new stake in shares of NBT Bancorp during the third quarter worth about $57,000. Quest Partners LLC acquired a new position in NBT Bancorp during the third quarter worth about $57,000. Rialto Wealth Management LLC acquired a new position in NBT Bancorp in the 4th quarter valued at about $87,000. Finally, Crews Bank & Trust acquired a new position in shares of NBT Bancorp in the 4th quarter worth approximately $98,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a research note on Wednesday, January 29th. DA Davidson began coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective on the stock. StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised their target price on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NBT Bancorp has a consensus rating of “Moderate Buy” and an average price target of $51.75.

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.