NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) EVP Ruth Mahoney sold 5,000 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $46.60, for a total value of $233,000.00. Following the sale, the executive vice president directly owned 16,428 shares of the company's stock, valued at approximately $765,544.80. This represents a 23.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
NBT Bancorp Stock Performance
NBTB opened at $46.24 on Tuesday. The firm has a market cap of $2.40 billion, a PE ratio of 13.17 and a beta of 0.49. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $44.85 and a 200-day simple moving average of $43.72. NBT Bancorp Inc. has a fifty-two week low of $39.19 and a fifty-two week high of $47.07.
NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.01). The company had revenue of $184.48 million for the quarter, compared to the consensus estimate of $185.36 million. NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%. As a group, equities analysts predict that NBT Bancorp Inc. will post 4.15 EPS for the current fiscal year.
NBT Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.48 annualized dividend and a dividend yield of 3.2%. NBT Bancorp's dividend payout ratio (DPR) is currently 42.17%.
Analyst Ratings Changes
NBTB has been the subject of several research reports. DA Davidson reissued a "buy" rating and set a $52.00 price objective on shares of NBT Bancorp in a research note on Monday, April 27th. Piper Sandler initiated coverage on NBT Bancorp in a research note on Monday, March 16th. They set an "overweight" rating and a $50.00 price objective for the company. Hovde Group reduced their price objective on NBT Bancorp from $47.00 to $46.50 and set a "market perform" rating for the company in a research note on Monday, April 27th. Weiss Ratings raised NBT Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Finally, Janney Montgomery Scott cut NBT Bancorp from a "buy" rating to a "neutral" rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $49.50.
Read Our Latest Research Report on NBTB
Institutional Trading of NBT Bancorp
Hedge funds and other institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL acquired a new stake in NBT Bancorp during the third quarter valued at $4,886,000. SG Americas Securities LLC boosted its position in NBT Bancorp by 195.7% during the fourth quarter. SG Americas Securities LLC now owns 71,852 shares of the bank's stock valued at $2,983,000 after purchasing an additional 47,550 shares during the last quarter. JPMorgan Chase & Co. boosted its position in NBT Bancorp by 26.7% during the third quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank's stock valued at $13,986,000 after purchasing an additional 70,594 shares during the last quarter. Savant Capital LLC boosted its position in NBT Bancorp by 168.4% during the third quarter. Savant Capital LLC now owns 71,060 shares of the bank's stock valued at $2,967,000 after purchasing an additional 44,585 shares during the last quarter. Finally, Financial Planning Hawaii Inc. acquired a new stake in NBT Bancorp during the fourth quarter valued at $641,000. Institutional investors and hedge funds own 58.46% of the company's stock.
NBT Bancorp Company Profile
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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.
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