NBT Bancorp (NASDAQ:NBTB) EVP Sells $233,000.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Ruth Mahoney sold 5,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $46.60, for a total value of $233,000.00. Following the sale, the executive vice president owned 16,428 shares in the company, valued at $765,544.80. The trade was a 23.33% 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 Up 0.6%

Shares of NBT Bancorp stock opened at $47.47 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The business’s 50 day simple moving average is $45.07 and its 200-day simple moving average is $43.83. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 13.52 and a beta of 0.49. NBT Bancorp Inc. has a twelve month low of $39.19 and a twelve month high of $47.88.

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

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, June 1st. NBT Bancorp’s dividend payout ratio (DPR) is currently 42.17%.

Wall Street Analyst Weigh In

Several analysts recently commented on NBTB shares. Weiss Ratings upgraded NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. 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 report on Monday, April 27th. Janney Montgomery Scott cut NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Piper Sandler started coverage on NBT Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $50.00 target price on the stock. Finally, Brean Capital cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, NBT Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $49.50.

Hedge Funds Weigh In On NBT Bancorp

Several hedge funds have recently modified their holdings of NBTB. Royal Bank of Canada increased its position in shares of NBT Bancorp by 22.3% during the 1st quarter. Royal Bank of Canada now owns 40,303 shares of the bank’s stock valued at $1,729,000 after purchasing an additional 7,349 shares during the period. AQR Capital Management LLC increased its position in shares of NBT Bancorp by 45.0% during the 1st quarter. AQR Capital Management LLC now owns 13,630 shares of the bank’s stock valued at $585,000 after purchasing an additional 4,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NBT Bancorp by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,388 shares of the bank’s stock valued at $1,175,000 after purchasing an additional 1,197 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of NBT Bancorp by 15.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 165,550 shares of the bank’s stock valued at $7,102,000 after purchasing an additional 22,655 shares during the period. Finally, Jane Street Group LLC increased its position in shares of NBT Bancorp by 1,188.4% during the 1st quarter. Jane Street Group LLC now owns 88,284 shares of the bank’s stock valued at $3,787,000 after purchasing an additional 81,432 shares during the period. 58.46% of the stock is currently owned by institutional investors and hedge funds.

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.