NBT Bancorp Inc. (NASDAQ:NBTB) Director V Daniel Robinson II Sells 30,000 Shares

NBT Bancorp Inc. (NASDAQ:NBTB) Director V Daniel Robinson II sold 30,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $44.78, for a total value of $1,343,400.00. Following the completion of the transaction, the director now owns 387,558 shares of the company’s stock, valued at approximately $17,354,847.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

V Daniel Robinson II also recently made the following trade(s):

• On Friday, September 13th, V Daniel Robinson II sold 50,000 shares of NBT Bancorp stock. The stock was sold at an average price of $44.58, for a total value of $2,229,000.00.
• On Wednesday, September 11th, V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock. The shares were sold at an average price of $44.10, for a total transaction of $882,000.00.

NBT Bancorp Price Performance

NASDAQ NBTB opened at $44.94 on Wednesday. The company has a 50-day moving average price of $46.13 and a 200-day moving average price of $39.61. NBT Bancorp Inc. has a 52 week low of $30.31 and a 52 week high of $50.83. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.12 billion, a P/E ratio of 17.35 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. The business had revenue of $194.00 million during the quarter, compared to the consensus estimate of $139.02 million. During the same quarter in the previous year, the business posted $0.80 earnings per share. Equities research analysts anticipate that NBT Bancorp Inc. will post 2.86 earnings per share for the current year.

NBT Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.03%. NBT Bancorp’s payout ratio is 52.51%.

Institutional Investors Weigh In On NBT Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of NBT Bancorp by 540.2% in the second quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock worth $27,147,000 after purchasing an additional 593,436 shares during the period. Norges Bank bought a new stake in shares of NBT Bancorp during the 4th quarter valued at $12,547,000. Hsbc Holdings PLC purchased a new position in shares of NBT Bancorp during the 4th quarter valued at $11,434,000. Bank of New York Mellon Corp boosted its holdings in NBT Bancorp by 36.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock worth $24,307,000 after buying an additional 169,180 shares during the period. Finally, Vanguard Group Inc. increased its stake in NBT Bancorp by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 5,642,447 shares of the bank’s stock worth $236,475,000 after buying an additional 126,572 shares in the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NBTB has been the subject of a number of research analyst reports. Raymond James lowered shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Stephens reaffirmed an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.60.

About NBT Bancorp

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.