NBT Bancorp Inc. (NASDAQ:NBTB) EVP Amy Wiles Sells 556 Shares

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Amy Wiles sold 556 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $25,020.00. Following the sale, the executive vice president now directly owns 28,909 shares of the company’s stock, valued at $1,300,905. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

NBT Bancorp Trading Down 0.3 %

Shares of NBTB stock opened at $44.94 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 17.35 and a beta of 0.50. NBT Bancorp Inc. has a 52-week low of $30.31 and a 52-week high of $50.83. The company has a 50-day simple moving average of $46.13 and a two-hundred day simple moving average of $39.61.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results 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). The business had revenue of $194.00 million during the quarter, compared to the consensus estimate of $139.02 million. NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. During the same period in the prior year, the company earned $0.80 earnings per share. Research analysts anticipate that NBT Bancorp Inc. will post 2.86 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.34 per share. The ex-dividend date was Friday, August 30th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.03%. NBT Bancorp’s dividend payout ratio (DPR) is currently 52.51%.

Hedge Funds Weigh In On NBT Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in NBT Bancorp by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 5,642,447 shares of the bank’s stock worth $236,475,000 after buying an additional 126,572 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NBT Bancorp by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock worth $88,675,000 after purchasing an additional 46,498 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of NBT Bancorp by 14.9% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after purchasing an additional 107,404 shares during the period. Victory Capital Management Inc. lifted its stake in NBT Bancorp by 540.2% in 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 during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings 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 valued at $24,307,000 after purchasing an additional 169,180 shares during the period. 58.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.