NBT Bancorp Inc. (NASDAQ:NBTB) Director John H. Watt, Jr. Sells 10,000 Shares

NBT Bancorp Inc. (NASDAQ:NBTB) Director John H. Watt, Jr. sold 10,000 shares of NBT Bancorp stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $49.40, for a total value of $494,000.00. Following the sale, the director now directly owns 125,301 shares in the company, valued at $6,189,869.40. The trade was a 7.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NBT Bancorp Stock Down 0.2 %

Shares of NASDAQ NBTB opened at $48.82 on Wednesday. NBT Bancorp Inc. has a 52-week low of $32.79 and a 52-week high of $51.93. 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 business has a fifty day moving average of $45.41 and a two-hundred day moving average of $42.86. The stock has a market cap of $2.30 billion, a PE ratio of 17.19 and a beta of 0.49.

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

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s payout ratio is currently 47.89%.

Institutional Investors Weigh In On NBT Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in NBT Bancorp by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock worth $49,477,000 after purchasing an additional 10,628 shares in the last quarter. Barclays PLC raised its holdings in shares of NBT Bancorp by 41.8% in the third quarter. Barclays PLC now owns 91,880 shares of the bank’s stock valued at $4,064,000 after buying an additional 27,085 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in NBT Bancorp during the 3rd quarter worth about $1,278,000. HighTower Advisors LLC bought a new stake in NBT Bancorp during the 3rd quarter worth about $235,000. Finally, Centiva Capital LP acquired a new stake in NBT Bancorp in the 3rd quarter valued at about $235,000. 58.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James cut NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Stephens reissued an “equal weight” rating and issued a $49.00 price target on shares of NBT Bancorp in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.60.

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.