NBT Bancorp Inc. (NASDAQ:NBTB) Director Sells $1,343,400.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director V Daniel Robinson II sold 30,000 shares of the stock in a transaction that occurred 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 $17,354,847.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 shares were 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 stock was sold at an average price of $44.10, for a total value of $882,000.00.

NBT Bancorp Stock Up 2.1 %

Shares of NASDAQ:NBTB opened at $46.15 on Friday. The firm’s 50-day moving average is $46.33 and its two-hundred day moving average is $39.69. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.86. NBT Bancorp Inc. has a 1 year low of $30.31 and a 1 year high of $50.83. The firm has a market capitalization of $2.18 billion, a PE ratio of 17.82 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last announced its 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 for the quarter, compared to analysts’ expectations of $139.02 million. During the same period in the previous year, the company earned $0.80 earnings per share. Analysts predict that NBT Bancorp Inc. will post 2.86 EPS for the current year.

NBT Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.34 dividend. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Friday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is presently 52.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Deprince Race & Zollo Inc. boosted its stake in shares of NBT Bancorp by 14.9% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock valued at $31,978,000 after buying an additional 107,404 shares during the period. AQR Capital Management LLC purchased a new position in NBT Bancorp in the second quarter worth approximately $214,000. Public Sector Pension Investment Board grew its holdings in NBT Bancorp by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 103,705 shares of the bank’s stock worth $4,003,000 after acquiring an additional 7,183 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its position in shares of NBT Bancorp by 49.6% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 28,213 shares of the bank’s stock valued at $1,089,000 after purchasing an additional 9,349 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of NBT Bancorp in the 2nd quarter valued at approximately $1,974,000. 58.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NBTB shares. 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 set a $49.00 price objective 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 issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average 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.