NBT Bancorp Inc. (NASDAQ:NBTB) Director Jack H. Webb Sells 10,000 Shares

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 shares were sold at an average price of $50.06, for a total transaction of $500,600.00. Following the transaction, the director now owns 45,018 shares of the company’s stock, valued at $2,253,601.08. This trade represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NBT Bancorp Price Performance

NBTB opened at $50.12 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.36 billion, a P/E ratio of 17.65 and a beta of 0.49. The stock has a 50-day moving average price of $46.03 and a 200-day moving average price of $43.39. NBT Bancorp Inc. has a 12-month low of $32.79 and a 12-month high of $52.31.

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 business had revenue of $202.00 million for 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 last year, the business earned $0.84 earnings per share. Equities analysts predict 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. Shareholders of record on Monday, December 2nd will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s dividend payout ratio is presently 47.89%.

Analyst Upgrades and Downgrades

NBTB has been the subject of several recent analyst reports. Stephens restated an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in shares of NBT Bancorp by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock valued at $88,675,000 after acquiring an additional 46,498 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of NBT Bancorp by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after purchasing an additional 10,628 shares during the period. Deprince Race & Zollo Inc. grew its holdings in shares of NBT Bancorp by 14.9% in the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after purchasing an additional 107,404 shares during the last quarter. Victory Capital Management Inc. increased its stake 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 buying an additional 593,436 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in NBT Bancorp by 36.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock valued at $24,307,000 after buying an additional 169,180 shares during the last quarter. 58.46% of the stock is owned by institutional investors.

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.