John H. Watt, Jr. Sells 10,000 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

by · The Markets Daily

NBT Bancorp Inc. (NASDAQ:NBTB – Get Free Report) Director John H. Watt, Jr. sold 10,000 shares of NBT Bancorp stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $49.40, for a total value of $494,000.00. Following the completion of the transaction, the director now directly owns 125,301 shares in the company, valued at $6,189,869.40. This represents a 7.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

NBT Bancorp Stock Performance

Shares of NBTB opened at $48.82 on Wednesday. NBT Bancorp Inc. has a 52 week low of $32.79 and a 52 week high of $51.93. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $2.30 billion, a PE ratio of 17.19 and a beta of 0.49. The company’s 50 day moving average price is $45.41 and its 200 day moving average price is $42.86.

NBT Bancorp (NASDAQ:NBTB – Get Free Report) last issued its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The company had revenue of $202.00 million during the quarter, compared to analyst estimates of $144.70 million. During the same quarter last year, the business posted $0.84 EPS. Research analysts expect that NBT Bancorp Inc. will post 2.91 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 annualized dividend and a yield of 2.79%. NBT Bancorp’s dividend payout ratio (DPR) is currently 47.89%.

Hedge Funds Weigh In On NBT Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after purchasing an additional 252 shares during the last quarter. US Bancorp DE acquired a new position in shares of NBT Bancorp during the third quarter worth approximately $57,000. Quest Partners LLC bought 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 stake in shares of NBT Bancorp in the third quarter worth $103,000. Finally, SG Americas Securities LLC acquired a new position in NBT Bancorp during the 1st quarter valued at $178,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NBTB shares. Raymond James downgraded shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. StockNews.com raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Stephens restated an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.60.

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NBT Bancorp Company Profile

(Get Free Report)

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.

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