NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) Director John H. Watt, Jr. sold 7,869 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $42.02, for a total value of $330,655.38. Following the sale, the director now owns 116,027 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website.
NBT Bancorp Price Performance
NASDAQ NBTB traded up $0.14 during trading on Friday, reaching $42.18. The company's stock had a trading volume of 248,123 shares, compared to its average volume of 238,740. The firm has a fifty day moving average of $41.82 and a 200 day moving average of $45.67. NBT Bancorp Inc. has a one year low of $34.47 and a one year high of $52.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $1.99 billion, a PE ratio of 14.25 and a beta of 0.58.
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 (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.04. NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. The firm had revenue of $155.31 million during the quarter, compared to analysts' expectations of $151.00 million. During the same period in the prior year, the business earned $0.68 EPS. Analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.
NBT Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Monday, June 2nd. NBT Bancorp's payout ratio is currently 45.03%.
Analyst Ratings Changes
NBTB has been the topic of a number of analyst reports. Hovde Group initiated coverage on NBT Bancorp in a research note on Friday, March 21st. They set a "market perform" rating and a $50.00 price objective on the stock. Wall Street Zen lowered NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, DA Davidson decreased their target price 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 issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $52.75.
Check Out Our Latest Stock Report on NBT Bancorp
Hedge Funds Weigh In On NBT Bancorp
A number of hedge funds and other institutional investors have recently modified their holdings of NBTB. TD Private Client Wealth LLC boosted its holdings in 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 acquiring an additional 294 shares during the period. Summit Investment Advisors Inc. boosted its holdings in NBT Bancorp by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,815 shares of the bank's stock valued at $230,000 after acquiring an additional 310 shares during the period. Bank of Montreal Can boosted its holdings in NBT Bancorp by 6.8% during the 4th quarter. Bank of Montreal Can now owns 7,278 shares of the bank's stock valued at $348,000 after acquiring an additional 461 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in NBT Bancorp by 1.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,218 shares of the bank's stock valued at $1,425,000 after acquiring an additional 496 shares during the period. Finally, US Bancorp DE boosted its holdings in NBT Bancorp by 42.0% during the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank's stock valued at $88,000 after acquiring an additional 543 shares during the period. 58.46% of the stock is currently owned by hedge funds and other institutional investors.
About NBT Bancorp
(
Get Free Report)
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.
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