Insider Selling: NBT Bancorp Inc. (NASDAQ:NBTB) Director Sells $500,600.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Jack H. Webb sold 10,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $50.06, for a total transaction of $500,600.00. Following the sale, the director now owns 45,018 shares of the company’s stock, valued at $2,253,601.08. This trade represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NBT Bancorp Trading Down 0.1 %

NBT Bancorp stock opened at $50.08 on Thursday. NBT Bancorp Inc. has a 12 month low of $32.79 and a 12 month high of $52.31. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 17.63 and a beta of 0.49. The business has a 50 day moving average price of $46.13 and a two-hundred day moving average price of $43.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17.

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

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.72%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Stephens reissued an “equal weight” rating and issued a $49.00 price objective 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 assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.60.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors have recently added to or reduced their stakes in NBTB. GAMMA Investing LLC raised its holdings in shares of NBT Bancorp by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after buying an additional 252 shares in the last quarter. US Bancorp DE acquired a new position in NBT Bancorp during the third quarter worth $57,000. Quest Partners LLC bought a new position in shares of NBT Bancorp during the third quarter valued at $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NBT Bancorp in the 3rd quarter valued at $103,000. Finally, AQR Capital Management LLC bought a new stake in shares of NBT Bancorp in the 2nd quarter worth about $214,000. 58.46% of the stock is owned by institutional investors and hedge funds.

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.