NBT Bancorp (NASDAQ:NBTB) EVP Sells 4,500 Shares of Stock

Key Points

• NBT Bancorp EVP Ruth Mahoney sold 4,500 shares for approximately $244,350, reducing her ownership by 27.39% to 11,928 shares.
• NBTB shares fell 1.4% to $53.49, while the bank’s latest quarterly results slightly missed analyst expectations for both earnings and revenue.
• The company raised its quarterly dividend to $0.40 per share, implying a $1.60 annual payout and a 3.0% yield; analysts’ consensus rating remains “Hold” with a $54.12 price target.

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) EVP Ruth Mahoney sold 4,500 shares of the firm's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $54.30, for a total value of $244,350.00. Following the sale, the executive vice president owned 11,928 shares of the company's stock, valued at $647,690.40. The trade was a 27.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

NBT Bancorp Stock Down 1.4%

Shares of NBTB traded down $0.77 during trading hours on Thursday, reaching $53.49. The company's stock had a trading volume of 199,705 shares, compared to its average volume of 291,153. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 13.08 and a beta of 0.48. NBT Bancorp Inc. has a 1-year low of $39.19 and a 1-year high of $54.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $48.86 and a two-hundred day moving average of $45.65.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The bank reported $1.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.01). The company had revenue of $186.69 million during the quarter, compared to analysts' expectations of $188.81 million. NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%. As a group, research analysts predict that NBT Bancorp Inc. will post 4.14 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, September 1st. This is a positive change from NBT Bancorp's previous quarterly dividend of $0.37. NBT Bancorp's payout ratio is currently 39.12%.

Institutional Trading of NBT Bancorp

Several large investors have recently added to or reduced their stakes in NBTB. Tudor Investment Corp ET AL acquired a new stake in shares of NBT Bancorp in the 3rd quarter valued at $4,886,000. SG Americas Securities LLC boosted its holdings in NBT Bancorp by 195.7% in the fourth quarter. SG Americas Securities LLC now owns 71,852 shares of the bank's stock worth $2,983,000 after purchasing an additional 47,550 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in NBT Bancorp during the first quarter worth $988,000. Hsbc Holdings PLC acquired a new position in NBT Bancorp during the first quarter worth $1,013,000. Finally, Dimensional Fund Advisors LP raised its holdings in NBT Bancorp by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,330,975 shares of the bank's stock valued at $99,252,000 after buying an additional 30,141 shares in the last quarter. 58.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NBTB. Piper Sandler boosted their price target on shares of NBT Bancorp from $50.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, June 26th. DA Davidson increased their price objective on NBT Bancorp from $52.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday. Weiss Ratings reissued a "buy (b)" rating on shares of NBT Bancorp in a research report on Tuesday, July 21st. Hovde Group lowered their target price on NBT Bancorp from $47.00 to $46.50 and set a "market perform" rating on the stock in a research note on Monday, April 27th. Finally, Stephens lowered NBT Bancorp from an "overweight" rating to an "equal weight" rating and upped their target price for the stock from $52.00 to $55.00 in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $54.12.

NBT Bancorp Company Profile

NBT Bancorp, Inc NASDAQ: NBTB is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.

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