Insider Selling: NBT Bancorp Inc. (NBTB) CEO Sells $873,988.20 in Stock
NBT Bancorp Inc. (NASDAQ:NBTB) CEO Martin A. Dietrich sold 21,741 shares of NBT Bancorp stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $40.20, for a total value of $873,988.20. Following the completion of the sale, the chief executive officer now directly owns 186,920 shares in the company, valued at $7,514,184. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
NBT Bancorp Inc. (NASDAQ:NBTB) opened at 38.67 on Friday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 21.72 and a beta of 0.79. NBT Bancorp Inc. has a 52 week low of $23.81 and a 52 week high of $40.96. The stock has a 50 day moving average price of $34.25 and a 200 day moving average price of $31.02.
NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, October 24th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business earned $96.31 million during the quarter. NBT Bancorp had a return on equity of 8.73% and a net margin of 19.35%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $0.45 earnings per share. Equities research analysts expect that NBT Bancorp Inc. will post $1.80 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Tuesday, November 29th. NBT Bancorp’s dividend payout ratio (DPR) is 51.69%.
Several institutional investors have recently modified their holdings of NBTB. Victory Capital Management Inc. increased its position in shares of NBT Bancorp by 77.5% in the second quarter. Victory Capital Management Inc. now owns 4,270 shares of the company’s stock worth $122,000 after buying an additional 1,864 shares during the period. Bank of Montreal Can purchased a new position in NBT Bancorp during the second quarter valued at $137,000. Societe Generale purchased a new position in NBT Bancorp during the second quarter valued at $141,000. SG Americas Securities LLC purchased a new position in NBT Bancorp during the second quarter valued at $141,000. Finally, PineBridge Investments L.P. increased its position in NBT Bancorp by 3.4% in the second quarter. PineBridge Investments L.P. now owns 5,447 shares of the company’s stock valued at $156,000 after buying an additional 177 shares during the last quarter. 46.71% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on NBT Bancorp from $27.00 to $28.00 and gave the stock a “market perform” rating in a research note on Friday, July 29th. Boenning Scattergood lowered NBT Bancorp from a “neutral” rating to an “underperform” rating in a research note on Thursday. Zacks Investment Research raised NBT Bancorp from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Friday, July 29th. Finally, Piper Jaffray Cos. lowered NBT Bancorp from a “neutral” rating to an “underweight” rating in a research note on Wednesday.
About NBT Bancorp
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and other subsidiaries, which provide 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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