Key Points
- Director Timothy Delaney purchased 22,730 shares at an average price of $42.97 (totaling ~$976,708), raising his stake 43.81% to 74,615 shares valued at about $3.21M.
- NBT Bancorp beat quarterly estimates with EPS of $1.05 vs. $0.99 expected and revenue of $185.14M vs. $183.63M, and the stock was up about 3.5% (trading near the mid-$40s, 50-day MA $42.86).
- The bank declared a quarterly dividend of $0.37 ($1.48 annual, ~3.4% yield, 49.33% payout ratio), and analysts hold a consensus "Moderate Buy" with a $50.67 target price.
NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) Director Timothy Delaney bought 22,730 shares of the firm's stock in a transaction dated Wednesday, January 28th. The stock was purchased at an average price of $42.97 per share, for a total transaction of $976,708.10. Following the transaction, the director owned 74,615 shares of the company's stock, valued at approximately $3,206,206.55. This represents a 43.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NBT Bancorp Stock Up 3.5%
Shares of NBTB opened at $44.11 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. NBT Bancorp Inc. has a one year low of $37.31 and a one year high of $49.18. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 13.37 and a beta of 0.50. The stock has a 50 day moving average price of $42.86 and a 200 day moving average price of $42.31.
NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings data on Monday, January 26th. The bank reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.06. NBT Bancorp had a return on equity of 10.86% and a net margin of 18.67%.The company had revenue of $185.14 million for the quarter, compared to analyst estimates of $183.63 million. Equities research analysts forecast that NBT Bancorp Inc. will post 3.69 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, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 3.4%. NBT Bancorp's payout ratio is presently 49.33%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in NBTB. State Street Corp grew its holdings in NBT Bancorp by 7.8% during the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank's stock worth $105,177,000 after acquiring an additional 182,793 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NBT Bancorp by 10.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,298,769 shares of the bank's stock worth $53,971,000 after purchasing an additional 126,718 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of NBT Bancorp by 1.1% during the third quarter. Victory Capital Management Inc. now owns 650,125 shares of the bank's stock worth $27,149,000 after purchasing an additional 7,253 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of NBT Bancorp by 63.2% during the second quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank's stock worth $18,741,000 after purchasing an additional 174,639 shares in the last quarter. Finally, PL Capital Advisors LLC purchased a new position in NBT Bancorp in the second quarter valued at $16,326,000. Hedge funds and other institutional investors own 58.46% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on NBTB. DA Davidson cut NBT Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 20th. Janney Montgomery Scott raised NBT Bancorp to a "strong-buy" rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of NBT Bancorp in a report on Monday, December 29th. Finally, Piper Sandler set a $47.00 price objective on shares of NBT Bancorp and gave the company an "overweight" rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, NBT Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.
Read Our Latest Stock Analysis on NBT Bancorp
About NBT Bancorp
(
Get Free Report)
NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.
In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
