NBT Bancorp Inc. (NASDAQ:NBTB) Director V Daniel Robinson II sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $38.58, for a total value of $964,500.00. Following the transaction, the director now directly owns 10,141 shares of the company’s stock, valued at approximately $391,239.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
NBT Bancorp Inc. (NBTB) opened at 38.74 on Friday. NBT Bancorp Inc. has a 52-week low of $31.28 and a 52-week high of $42.56. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 20.83 and a beta of 0.91. The company’s 50-day moving average price is $36.45 and its 200-day moving average price is $36.26.
NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $102.71 million for the quarter, compared to the consensus estimate of $101.31 million. NBT Bancorp had a return on equity of 9.01% and a net margin of 20.02%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 earnings per share. Equities research analysts expect that NBT Bancorp Inc. will post $1.96 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, November 30th. NBT Bancorp’s payout ratio is presently 47.92%.
NBT Bancorp declared that its Board of Directors has initiated a share repurchase program on Monday, October 23rd that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
NBTB has been the subject of a number of analyst reports. Zacks Investment Research raised NBT Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday, July 28th. Boenning Scattergood raised NBT Bancorp from an “under perform” rating to a “neutral” rating in a research report on Tuesday, August 15th. BidaskClub lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $35.00 price objective on shares of NBT Bancorp in a research report on Sunday, September 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.50 price objective on shares of NBT Bancorp in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.38.
Several hedge funds have recently modified their holdings of NBTB. Bank of Montreal Can increased its position in shares of NBT Bancorp by 37.2% during the second quarter. Bank of Montreal Can now owns 4,021 shares of the bank’s stock worth $149,000 after purchasing an additional 1,090 shares in the last quarter. Biondo Investment Advisors LLC acquired a new position in shares of NBT Bancorp during the second quarter worth $201,000. Amalgamated Bank increased its position in shares of NBT Bancorp by 1.1% during the second quarter. Amalgamated Bank now owns 5,814 shares of the bank’s stock worth $215,000 after purchasing an additional 66 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of NBT Bancorp by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 5,867 shares of the bank’s stock worth $217,000 after purchasing an additional 47 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of NBT Bancorp during the second quarter worth $218,000. 49.20% of the stock is currently owned by institutional investors and hedge funds.
NBT Bancorp Company Profile
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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