NBT Bancorp Inc. (NASDAQ:NBTB) Director Buys $14,385.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) Director Jason David Brown purchased 350 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average price of $41.10 per share, with a total value of $14,385.00. Following the acquisition, the director now directly owns 7,364 shares in the company, valued at $302,660.40. This represents a 4.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NBT Bancorp Trading Up 1.9%

NBTB stock traded up $0.76 during mid-day trading on Friday, reaching $41.80. 216,151 shares of the stock traded hands, compared to its average volume of 240,743. NBT Bancorp Inc. has a one year low of $34.47 and a one year high of $52.44. The stock has a market capitalization of $1.98 billion, a PE ratio of 14.12 and a beta of 0.58. 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 50-day moving average price of $41.64 and a two-hundred day moving average price of $45.37.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.76 by $0.04. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. The company had revenue of $155.31 million for the quarter, compared to the consensus estimate of $151.00 million. During the same period in the prior year, the firm posted $0.68 EPS. Equities research analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, June 2nd. NBT Bancorp's dividend payout ratio is currently 45.03%.

Wall Street Analysts Forecast Growth

NBTB has been the topic of a number of research reports. Hovde Group assumed coverage on shares of NBT Bancorp in a report on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price on the stock. Wall Street Zen lowered NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, DA Davidson reduced their price objective on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $52.75.

Hedge Funds Weigh In On NBT Bancorp

Hedge funds have recently bought and sold shares of the business. TD Private Client Wealth LLC boosted its stake in shares of NBT Bancorp by 51.3% during the first quarter. TD Private Client Wealth LLC now owns 867 shares of the bank's stock valued at $37,000 after purchasing an additional 294 shares during the period. Cloud Capital Management LLC purchased a new position in NBT Bancorp in the 1st quarter worth about $68,000. Sterling Capital Management LLC lifted its holdings in NBT Bancorp by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock valued at $69,000 after buying an additional 1,292 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in NBT Bancorp in the 4th quarter valued at about $87,000. Finally, US Bancorp DE boosted its position in NBT Bancorp by 42.0% in the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank's stock valued at $88,000 after buying an additional 543 shares during the period. Institutional investors own 58.46% of the company's stock.

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.