NBT Bancorp Inc. (NASDAQ:NBTB) Director V Daniel Robinson II Sells 50,000 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director V Daniel Robinson II sold 50,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.58, for a total transaction of $2,229,000.00. Following the completion of the sale, the director now directly owns 417,558 shares in the company, valued at approximately $18,614,735.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

V Daniel Robinson II also recently made the following trade(s):

• On Monday, September 16th, V Daniel Robinson II sold 30,000 shares of NBT Bancorp stock. The shares were sold at an average price of $44.78, for a total transaction of $1,343,400.00.
• 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 transaction of $882,000.00.

NBT Bancorp Trading Down 0.3 %

Shares of NBTB stock opened at $44.94 on Wednesday. The firm’s 50-day simple moving average is $46.13 and its 200-day simple moving average is $39.61. 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 cap of $2.12 billion, a P/E ratio of 17.35 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. The company had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $139.02 million. During the same period in the prior year, the business earned $0.80 EPS. As a group, equities analysts forecast that NBT Bancorp Inc. will post 2.86 EPS for the current year.

NBT Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.34 dividend. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is 52.51%.

Institutional Investors Weigh In On NBT Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Register Financial Advisors LLC purchased a new position in shares of NBT Bancorp in the 1st quarter worth about $27,000. Union Savings Bank raised its holdings in NBT Bancorp by 4,075.0% in the first quarter. Union Savings Bank now owns 4,843 shares of the bank’s stock valued at $178,000 after buying an additional 4,727 shares during the period. SG Americas Securities LLC acquired a new position in NBT Bancorp during the first quarter valued at approximately $178,000. AQR Capital Management LLC purchased a new stake in NBT Bancorp during the second quarter worth approximately $214,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of NBT Bancorp in the first quarter worth $332,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Analysts Set New Price Targets

NBTB has been the subject of a number of analyst reports. Stephens reissued an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. Raymond James downgraded NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.