Jack H. Webb Sells 10,000 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Jack H. Webb sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $50.06, for a total value of $500,600.00. Following the completion of the transaction, the director now owns 45,018 shares in the company, valued at $2,253,601.08. The trade was a 18.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB opened at $50.12 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $46.03 and a two-hundred day simple moving average of $43.39. NBT Bancorp Inc. has a 1-year low of $32.79 and a 1-year high of $52.31. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 17.65 and a beta of 0.49.

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

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 2.71%. NBT Bancorp’s payout ratio is 47.89%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NBTB shares. Stephens reiterated an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Four 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 currently has a consensus rating of “Hold” and an average target price of $42.60.

Institutional Trading of NBT Bancorp

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in 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. Arizona State Retirement System grew its position in shares of NBT Bancorp by 2.0% in the second quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock valued at $509,000 after purchasing an additional 258 shares in the last quarter. Inspire Investing LLC raised its stake in shares of NBT Bancorp by 3.7% during the 3rd quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock valued at $415,000 after purchasing an additional 331 shares during the period. Louisiana State Employees Retirement System lifted its holdings in NBT Bancorp by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock worth $915,000 after purchasing an additional 400 shares in the last quarter. Finally, US Bancorp DE bought a new position in NBT Bancorp in the 3rd quarter worth about $57,000. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

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.