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

NBT Bancorp Inc. (NASDAQ:NBTB) Director John H. Watt, Jr. sold 10,000 shares of NBT Bancorp stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.40, for a total transaction of $494,000.00. Following the completion of the sale, the director now owns 125,301 shares in the company, valued at $6,189,869.40. This trade represents a 7.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $48.74 on Thursday. The stock has a market cap of $2.30 billion, a PE ratio of 17.19 and a beta of 0.49. 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 firm has a 50-day moving average of $45.49 and a 200-day moving average of $42.95. NBT Bancorp Inc. has a 52-week low of $32.79 and a 52-week high of $51.93.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same quarter in the prior year, the business earned $0.84 earnings per share. On average, sell-side analysts anticipate that NBT Bancorp Inc. will post 2.91 EPS for the current year.

NBT Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

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

Institutional Trading of NBT Bancorp

A number of institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System raised its position in shares of NBT Bancorp by 150.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank’s stock valued at $1,104,000 after buying an additional 19,661 shares in the last quarter. Russell Investments Group Ltd. increased its stake in NBT Bancorp by 978.7% during the 1st quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock worth $3,318,000 after acquiring an additional 82,071 shares during the period. Edgestream Partners L.P. bought a new position in NBT Bancorp during the 2nd quarter worth $1,974,000. Ceredex Value Advisors LLC raised its holdings in NBT Bancorp by 2.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock valued at $8,473,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of NBT Bancorp by 3.9% during the 3rd quarter. Raymond James & Associates now owns 95,062 shares of the bank’s stock valued at $4,205,000 after acquiring an additional 3,540 shares during the period. 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.