NBT Bancorp Inc. (NBTB) Sees Strong Trading Volume
NBT Bancorp Inc. (NASDAQ:NBTB) shares saw unusually-strong trading volume on Friday . Approximately 190,595 shares were traded during mid-day trading, an increase of 19% from the previous session’s volume of 160,136 shares.The stock last traded at $32.19 and had previously closed at $32.40.
A number of equities analysts recently weighed in on NBTB shares. Zacks Investment Research raised NBT Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 27th. Keefe, Bruyette & Woods upped their price target on NBT Bancorp from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Friday, July 29th.
The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 18.14 and a beta of 0.94. The company’s 50-day moving average price is $31.25 and its 200 day moving average price is $28.81.
NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. NBT Bancorp had a net margin of 19.38% and a return on equity of 8.79%. The company earned $95.39 million during the quarter. During the same quarter in the previous year, the business posted $0.43 earnings per share. NBT Bancorp’s revenue was up 4.9% on a year-over-year basis. Equities analysts expect that NBT Bancorp Inc. will post $1.80 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.87%. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is presently 51.98%.
In related news, EVP Jeffrey M. Levy sold 31,000 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $29.83, for a total transaction of $924,730.00. Following the completion of the transaction, the executive vice president now directly owns 57,139 shares in the company, valued at approximately $1,704,456.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Martin A. Dietrich sold 25,000 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $29.78, for a total value of $744,500.00. Following the transaction, the chief executive officer now owns 187,815 shares of the company’s stock, valued at $5,593,130.70. The disclosure for this sale can be found here. Insiders own 2.83% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of NBT Bancorp by 77.5% in the second quarter. Victory Capital Management Inc. now owns 4,270 shares of the company’s stock valued at $122,000 after buying an additional 1,864 shares in the last quarter. Bank of Montreal Can bought a new position in shares of NBT Bancorp during the second quarter valued at about $137,000. Societe Generale bought a new position in shares of NBT Bancorp during the second quarter valued at about $141,000. SG Americas Securities LLC bought a new position in shares of NBT Bancorp during the second quarter valued at about $141,000. Finally, PineBridge Investments L.P. increased its position in shares of NBT Bancorp by 3.4% in the second quarter. PineBridge Investments L.P. now owns 5,447 shares of the company’s stock valued at $156,000 after buying an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 46.02% of the company’s stock.
NBT Bancorp Company Profile
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and other subsidiaries, which provide commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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