Insider Selling: NBT Bancorp Inc. (NASDAQ:NBTB) EVP Sells 5,000 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Sarah A. Halliday sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the sale, the executive vice president now owns 25,564 shares in the company, valued at $1,238,575.80. The trade was a 16.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NBT Bancorp Stock Performance

Shares of NBTB opened at $49.14 on Wednesday. The business’s fifty day simple moving average is $48.43 and its two-hundred day simple moving average is $47.11. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 12 month low of $32.79 and a 12 month high of $52.44. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 16.60 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly 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 return on equity of 9.39% and a net margin of 17.84%. During the same period in the previous year, the company earned $0.72 earnings per share. Research analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.34 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.77%. NBT Bancorp’s dividend payout ratio (DPR) is currently 45.95%.

Hedge Funds Weigh In On NBT Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of NBT Bancorp by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock worth $49,477,000 after buying an additional 10,628 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NBT Bancorp by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock worth $32,632,000 after buying an additional 75,693 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of NBT Bancorp by 8.1% in the 4th quarter. Victory Capital Management Inc. now owns 666,562 shares of the bank’s stock worth $31,835,000 after buying an additional 50,152 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in NBT Bancorp by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 595,349 shares of the bank’s stock worth $28,434,000 after purchasing an additional 9,713 shares during the period. Finally, Raymond James Financial Inc. bought a new position in NBT Bancorp in the 4th quarter worth $23,651,000. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NBTB shares. Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research note on Wednesday, January 29th. DA Davidson assumed coverage on NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target on the stock. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, NBT Bancorp currently has an average rating of “Moderate Buy” and an average price target of $51.75.

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.