Insider Selling: NBT Bancorp Inc. (NASDAQ:NBTB) Director Sells 7,869 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) Director John H. Watt, Jr. sold 7,869 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the completion of the transaction, the director now directly owns 116,027 shares of the company's stock, valued at $4,875,454.54. The trade was a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NBT Bancorp Price Performance

NBTB traded down $0.50 on Monday, reaching $41.01. The company had a trading volume of 168,825 shares, compared to its average volume of 258,685. NBT Bancorp Inc. has a 52-week low of $34.47 and a 52-week high of $52.44. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 13.85 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 simple moving average of $41.82 and a 200 day simple moving average of $45.61.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share 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 firm had revenue of $155.31 million for the quarter, compared to analysts' expectations of $151.00 million. During the same quarter last year, the company posted $0.68 EPS. As a group, sell-side analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.32%. The ex-dividend date is Monday, June 2nd. NBT Bancorp's dividend payout ratio (DPR) is currently 45.03%.

Hedge Funds Weigh In On NBT Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. TD Private Client Wealth LLC raised its holdings in shares of NBT Bancorp by 51.3% during the 1st quarter. TD Private Client Wealth LLC now owns 867 shares of the bank's stock valued at $37,000 after buying an additional 294 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of NBT Bancorp by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock worth $69,000 after acquiring an additional 1,292 shares in the last quarter. Cloud Capital Management LLC purchased a new position in shares of NBT Bancorp during the first quarter worth approximately $68,000. Rialto Wealth Management LLC bought a new stake in shares of NBT Bancorp in the 4th quarter worth approximately $87,000. Finally, US Bancorp DE boosted its stake in shares of 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 purchasing an additional 543 shares in the last quarter. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NBTB shares. Wall Street Zen downgraded shares of NBT Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Hovde Group initiated coverage on shares of NBT Bancorp in a research note on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price on the stock. Finally, DA Davidson cut their price target on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating for the company in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $52.75.

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.