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

NBT Bancorp Inc. (NASDAQ:NBTB) Director John H. Watt, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $49.40, for a total transaction of $494,000.00. Following the transaction, the director now directly owns 125,301 shares in the company, valued at $6,189,869.40. The trade was a 7.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

NBT Bancorp Stock Performance

Shares of NASDAQ NBTB traded up $0.14 during trading on Monday, reaching $49.40. The stock had a trading volume of 64,253 shares, compared to its average volume of 205,339. The stock has a market cap of $2.33 billion, a PE ratio of 17.35 and a beta of 0.49. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $51.93. The firm’s 50 day moving average price is $45.35 and its two-hundred day moving average price is $42.78. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly 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 company had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same period last year, the company earned $0.84 earnings per share. On average, research analysts forecast that NBT Bancorp Inc. will post 2.91 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.75%. NBT Bancorp’s dividend payout ratio is currently 47.89%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in NBT Bancorp by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after buying an additional 252 shares during the last quarter. US Bancorp DE acquired a new stake in NBT Bancorp in the 3rd quarter valued at approximately $57,000. Quest Partners LLC bought a new position in NBT Bancorp in the 3rd quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NBT Bancorp in the third quarter worth $103,000. Finally, SG Americas Securities LLC bought a new position in NBT Bancorp during the first quarter worth $178,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NBTB. Raymond James cut shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Stephens reiterated an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, NBT Bancorp has a consensus rating of “Hold” and an average target price 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.