NBT Bancorp Inc. (NBTB) Director John C. Mitchell Sells 1,800 Shares of Stock
NBT Bancorp Inc. (NASDAQ:NBTB) Director John C. Mitchell sold 1,800 shares of the stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $39.00, for a total transaction of $70,200.00. Following the completion of the transaction, the director now directly owns 35,107 shares of the company’s stock, valued at approximately $1,369,173. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NBT Bancorp Inc. (NASDAQ:NBTB) opened at 38.86 on Tuesday. The firm’s 50-day moving average is $35.33 and its 200 day moving average is $31.57. NBT Bancorp Inc. has a 52 week low of $23.81 and a 52 week high of $40.96. The company has a market capitalization of $1.68 billion, a PE ratio of 21.83 and a beta of 0.79.
NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, October 24th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The business earned $96.31 million during the quarter. NBT Bancorp had a net margin of 19.35% and a return on equity of 8.73%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. On average, analysts anticipate that NBT Bancorp Inc. will post $1.80 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Tuesday, November 29th. NBT Bancorp’s payout ratio is 51.69%.
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Several research analysts recently issued reports on NBTB shares. Piper Jaffray Cos. lowered shares of NBT Bancorp from a “neutral” rating to an “underweight” rating and set a $31.00 price target for the company. in a research report on Wednesday, November 16th. Zacks Investment Research raised shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Tuesday, November 1st. Finally, Boenning Scattergood cut shares of NBT Bancorp from a “neutral” rating to an “underperform” rating and set a $33.50 price objective on the stock. in a research note on Thursday, November 17th.
Several hedge funds have recently made changes to their positions in the company. Great West Life Assurance Co. Can increased its stake in shares of NBT Bancorp by 1.5% in the third quarter. Great West Life Assurance Co. Can now owns 58,594 shares of the company’s stock valued at $1,925,000 after buying an additional 883 shares during the last quarter. PineBridge Investments L.P. increased its stake in shares of 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. Mason Street Advisors LLC bought a new stake in shares of NBT Bancorp during the second quarter valued at approximately $240,000. First Trust Advisors LP increased its stake in shares of NBT Bancorp by 0.9% in the second quarter. First Trust Advisors LP now owns 62,311 shares of the company’s stock valued at $1,784,000 after buying an additional 541 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of NBT Bancorp by 9.0% in the second quarter. UBS Asset Management Americas Inc. now owns 25,379 shares of the company’s stock valued at $726,000 after buying an additional 2,104 shares during the last quarter. 47.85% of the stock is owned by institutional investors and hedge funds.
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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