Insider Selling: NBT Bancorp Inc. (NASDAQ:NBTB) Director Sells 10,000 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Jack H. Webb sold 10,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $50.06, for a total value of $500,600.00. Following the completion of the transaction, the director now owns 45,018 shares of the company’s stock, valued at $2,253,601.08. This represents a 18.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

NBT Bancorp Stock Up 1.1 %

NBTB stock opened at $50.99 on Tuesday. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 17.76 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The business’s 50-day moving average is $45.81 and its two-hundred day moving average is $43.21. NBT Bancorp Inc. has a fifty-two week low of $32.79 and a fifty-two week high of $52.31.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period in the prior year, the company earned $0.84 earnings per share. As a group, analysts forecast that NBT Bancorp Inc. will post 2.91 earnings per share for the current year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.67%. NBT Bancorp’s dividend payout ratio is currently 47.89%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Stephens reiterated an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a report on Tuesday, September 10th. StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.60.

Institutional Trading of NBT Bancorp

Hedge funds have recently bought and sold shares of the stock. Eagle Asset Management Inc. lifted its position in shares of NBT Bancorp by 76.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after buying an additional 163,952 shares in the last quarter. Edgestream Partners L.P. bought a new stake in NBT Bancorp during the 2nd quarter worth approximately $1,974,000. Ceredex Value Advisors LLC lifted its holdings in NBT Bancorp by 2.6% during the second quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock valued at $8,473,000 after purchasing an additional 5,500 shares in the last quarter. Raymond James & Associates boosted its position in shares of NBT Bancorp by 3.9% in the third quarter. Raymond James & Associates now owns 95,062 shares of the bank’s stock worth $4,205,000 after purchasing an additional 3,540 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of NBT Bancorp in the third quarter worth $439,000. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company Profile

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.