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 company’s stock in a transaction that occurred on Friday, November 22nd. The stock was 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 in the company, valued at $2,253,601.08. The trade was a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

NBT Bancorp Trading Up 1.7 %

Shares of NBTB stock traded up $0.85 on Monday, hitting $51.30. The stock had a trading volume of 147,051 shares, compared to its average volume of 204,121. The firm has a market cap of $2.42 billion, a P/E ratio of 17.76 and a beta of 0.49. NBT Bancorp Inc. has a twelve month low of $32.79 and a twelve month high of $52.31. 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 company has a fifty day moving average price of $45.81 and a two-hundred day moving average price of $43.21.

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

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio is 47.89%.

Hedge Funds Weigh In On NBT Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of NBT Bancorp by 47.9% during the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after buying an additional 252 shares during the period. US Bancorp DE bought a new position in shares of NBT Bancorp during the 3rd quarter worth approximately $57,000. Quest Partners LLC acquired a new stake in shares of NBT Bancorp in the third quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in NBT Bancorp during the third quarter worth $103,000. Finally, Focused Wealth Management Inc bought a new position in NBT Bancorp in the third quarter valued at $217,000. 58.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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