NBT Bancorp (NASDAQ:NBTB) Reaches New 1-Year High – What’s Next?

NBT Bancorp Inc. (NASDAQ:NBTB)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $51.93 and last traded at $51.63, with a volume of 42074 shares trading hands. The stock had previously closed at $50.53.

Wall Street Analyst Weigh In

NBTB has been the topic of several research analyst reports. Raymond James lowered shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Stephens reaffirmed an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a research note 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $42.60.

NBT Bancorp Trading Down 0.2 %

The company has a market capitalization of $2.38 billion, a P/E ratio of 17.76 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 0.17. The firm’s 50-day moving average price is $45.14 and its 200 day moving average price is $42.37.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The firm had revenue of $202.00 million during the quarter, compared to analyst estimates of $144.70 million. During the same period in the previous year, the company posted $0.84 EPS. As a group, equities research analysts predict that NBT Bancorp Inc. will post 2.91 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.70%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

Insiders Place Their Bets

In related news, EVP Martin Randolph Sparks sold 1,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.37, for a total transaction of $48,370.00. Following the transaction, the executive vice president now directly owns 15,003 shares of the company’s stock, valued at $725,695.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NBT Bancorp news, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the transaction, the director now owns 38,853 shares in the company, valued at $1,999,763.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Martin Randolph Sparks sold 1,000 shares of NBT Bancorp stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the sale, the executive vice president now owns 15,003 shares in the company, valued at $725,695.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 162,556 shares of company stock valued at $7,545,690 in the last three months. 3.32% of the stock is currently owned by insiders.

Institutional Trading of NBT Bancorp

A number of large investors have recently added to or reduced their stakes in NBTB. GAMMA Investing LLC grew 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 valued at $34,000 after acquiring an additional 252 shares during the period. US Bancorp DE purchased a new position in NBT Bancorp in the third quarter valued at approximately $57,000. Quest Partners LLC bought a new position in NBT Bancorp during the third quarter valued at $57,000. SG Americas Securities LLC bought a new stake in shares of NBT Bancorp in the first quarter valued at $178,000. Finally, Focused Wealth Management Inc purchased a new position in shares of NBT Bancorp during the 3rd quarter valued at $217,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company Profile

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.