NBT Bancorp Inc. (NASDAQ:NBTB) Director Timothy E. Delaney Sells 40,000 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Timothy E. Delaney sold 40,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the transaction, the director now directly owns 38,853 shares of the company’s stock, valued at $1,999,763.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

NBT Bancorp Trading Down 0.4 %

Shares of NASDAQ:NBTB opened at $50.32 on Thursday. NBT Bancorp Inc. has a 12-month low of $32.79 and a 12-month high of $51.93. 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 firm has a market capitalization of $2.37 billion, a P/E ratio of 17.72 and a beta of 0.49. The firm has a fifty day moving average of $45.24 and a two-hundred day moving average of $42.53.

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

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.34 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.36 annualized dividend and a yield of 2.70%. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in NBT Bancorp by 540.2% during the 2nd 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. Bank of New York Mellon Corp raised its stake in shares of NBT Bancorp by 36.7% in 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 acquiring an additional 169,180 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of NBT Bancorp by 76.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock worth $16,759,000 after acquiring an additional 163,952 shares in the last quarter. Deprince Race & Zollo Inc. grew its position in NBT Bancorp by 14.9% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after acquiring an additional 107,404 shares during the last quarter. Finally, Ceredex Value Advisors LLC increased its holdings in NBT Bancorp by 40.9% during the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock valued at $13,680,000 after purchasing an additional 89,800 shares in the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NBTB shares. 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 issued a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. Finally, Raymond James cut NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.