Key Points
- NBT Bancorp director Heidi Hoeller sold 2,100 shares on June 12 at an average price of $48.03, totaling about $100,863. After the sale, she still held 11,560 shares, a 15.37% reduction in ownership.
- The stock was trading near its 52-week high, opening at $48.18 versus a one-year range of $39.19 to $48.26. NBT Bancorp also has a market cap of about $2.51 billion and a low beta of 0.49.
- Analysts remain moderately positive on the shares, with a consensus rating of “Moderate Buy” and a consensus price target of $49.50. The company also pays a quarterly dividend of $0.37 per share, yielding about 3.1%.
NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) Director Heidi Hoeller sold 2,100 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $48.03, for a total transaction of $100,863.00. Following the transaction, the director directly owned 11,560 shares in the company, valued at approximately $555,226.80. This trade represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
NBT Bancorp Stock Performance
Shares of NASDAQ:NBTB opened at $48.18 on Friday. The firm has a market cap of $2.51 billion, a PE ratio of 13.73 and a beta of 0.49. The firm's 50 day simple moving average is $45.27 and its 200-day simple moving average is $43.90. NBT Bancorp Inc. has a one year low of $39.19 and a one year high of $48.26. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87.
NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing analysts' consensus estimates of $0.98 by ($0.01). The company had revenue of $184.48 million for the quarter, compared to analysts' expectations 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 year.
NBT Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, June 1st. NBT Bancorp's dividend payout ratio (DPR) is presently 42.17%.
Analyst Ratings Changes
Several equities analysts recently issued reports on NBTB shares. Piper Sandler started coverage on shares of NBT Bancorp in a report on Monday, March 16th. They set an "overweight" rating and a $50.00 price objective on the stock. Hovde Group cut their price objective on shares of NBT Bancorp from $47.00 to $46.50 and set a "market perform" rating on the stock in a report on Monday, April 27th. Brean Capital lowered shares of NBT Bancorp from a "strong-buy" rating to a "hold" rating in a report on Friday, February 20th. Weiss Ratings raised shares of NBT Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Finally, DA Davidson reissued a "buy" rating and set a $52.00 price objective on shares of NBT Bancorp in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.50.
View Our Latest Stock Report on NBT Bancorp
Institutional Investors Weigh In On NBT Bancorp
Several institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in NBT Bancorp by 7.8% in the second quarter. State Street Corp now owns 2,531,336 shares of the bank's stock valued at $105,177,000 after acquiring an additional 182,793 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in NBT Bancorp by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,330,975 shares of the bank's stock valued at $99,252,000 after acquiring an additional 30,141 shares in the last quarter. Victory Capital Management Inc. boosted its stake in NBT Bancorp by 2.0% in the fourth quarter. Victory Capital Management Inc. now owns 663,092 shares of the bank's stock valued at $27,532,000 after acquiring an additional 12,967 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in NBT Bancorp by 29.7% in the first quarter. The Manufacturers Life Insurance Company now owns 560,259 shares of the bank's stock valued at $23,856,000 after acquiring an additional 128,316 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in NBT Bancorp by 26.7% in the third quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank's stock valued at $13,986,000 after acquiring an additional 70,594 shares in the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.
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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