NBT Bancorp (NASDAQ:NBTB) Director Heidi Hoeller Sells 2,100 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Heidi Hoeller sold 2,100 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $48.03, for a total transaction of $100,863.00. Following the transaction, the director directly owned 11,560 shares of the company’s stock, valued at $555,226.80. This trade represents a 15.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NBT Bancorp Stock Up 1.1%

NBTB opened at $48.18 on Friday. The firm has a 50-day simple moving average of $45.27 and a two-hundred day simple moving average of $43.90. NBT Bancorp Inc. has a 52 week low of $39.19 and a 52 week high of $48.26. The company has a market capitalization of $2.51 billion, a PE ratio of 13.73 and a beta of 0.49. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. The company had revenue of $184.48 million for the quarter, compared to the consensus estimate of $185.36 million. Analysts forecast that NBT Bancorp Inc. will post 4.15 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, June 1st. NBT Bancorp’s dividend payout ratio is 42.17%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NBTB. DA Davidson reaffirmed a “buy” rating and issued a $52.00 price target on shares of NBT Bancorp in a report on Monday, April 27th. Piper Sandler began coverage on shares of NBT Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $50.00 price target for the company. Brean Capital downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Hovde Group lowered their price target on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a report on Monday, April 27th. Finally, Weiss Ratings raised shares of NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.

Institutional Trading of NBT Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL bought a new stake in NBT Bancorp in the third quarter worth about $4,886,000. SG Americas Securities LLC increased its position in shares of NBT Bancorp by 195.7% during the fourth quarter. SG Americas Securities LLC now owns 71,852 shares of the bank’s stock worth $2,983,000 after acquiring an additional 47,550 shares during the period. JPMorgan Chase & Co. increased its position in shares of NBT Bancorp by 26.7% during the third quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock worth $13,986,000 after acquiring an additional 70,594 shares during the period. Financial Planning Hawaii Inc. purchased a new position in shares of NBT Bancorp during the fourth quarter worth approximately $641,000. Finally, Public Sector Pension Investment Board increased its position in shares of NBT Bancorp by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 204,320 shares of the bank’s stock worth $8,532,000 after acquiring an additional 25,924 shares during the period. Institutional investors own 58.46% of the company’s stock.

About NBT Bancorp

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.