NBT Bancorp Inc. (NASDAQ:NBTB) Director Acquires $14,385.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Jason David Brown bought 350 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was purchased at an average cost of $41.10 per share, with a total value of $14,385.00. Following the acquisition, the director now directly owns 7,364 shares in the company, valued at $302,660.40. This trade represents a 4.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

NBT Bancorp Stock Down 1.2%

Shares of NBTB opened at $41.11 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 13.89 and a beta of 0.58. NBT Bancorp Inc. has a 1 year low of $34.47 and a 1 year high of $52.44. The business’s 50 day simple moving average is $41.69 and its 200-day simple moving average is $45.49.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. The company had revenue of $155.31 million for the quarter, compared to the consensus estimate of $151.00 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. As a group, equities analysts expect that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Monday, June 2nd. NBT Bancorp’s payout ratio is 45.03%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NBTB. Wall Street Zen lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Hovde Group began coverage on shares of NBT Bancorp in a research report on Friday, March 21st. They set a “market perform” rating and a $50.00 target price for the company. Finally, DA Davidson reduced their price target on shares of NBT Bancorp from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, NBT Bancorp currently has an average rating of “Hold” and a consensus price target of $52.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC raised its position in NBT Bancorp by 51.3% during the first quarter. TD Private Client Wealth LLC now owns 867 shares of the bank’s stock valued at $37,000 after purchasing an additional 294 shares during the period. Cloud Capital Management LLC bought a new position in shares of NBT Bancorp during the 1st quarter valued at approximately $68,000. Sterling Capital Management LLC raised its holdings in NBT Bancorp by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank’s stock valued at $69,000 after buying an additional 1,292 shares during the period. Rialto Wealth Management LLC bought a new stake in NBT Bancorp in the fourth quarter worth $87,000. Finally, US Bancorp DE lifted its position in NBT Bancorp by 42.0% in the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock worth $88,000 after buying an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

About NBT Bancorp

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.