NBT Bancorp Inc. (NBTB) Director Sells $581,400.00 in Stock
NBT Bancorp Inc. (NASDAQ:NBTB) Director V Daniel Robinson II sold 15,000 shares of NBT Bancorp stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $38.76, for a total transaction of $581,400.00. Following the completion of the transaction, the director now owns 10,141 shares of the company’s stock, valued at approximately $393,065.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
V Daniel Robinson II also recently made the following trade(s):
- On Monday, October 30th, V Daniel Robinson II sold 25,000 shares of NBT Bancorp stock. The stock was sold at an average price of $38.56, for a total transaction of $964,000.00.
- On Wednesday, October 25th, V Daniel Robinson II sold 25,000 shares of NBT Bancorp stock. The stock was sold at an average price of $38.58, for a total transaction of $964,500.00.
Shares of NBT Bancorp Inc. (NBTB) traded up 1.70% during midday trading on Tuesday, reaching $38.26. 31,757 shares of the company were exchanged. The company has a market capitalization of $1.66 billion, a PE ratio of 20.57 and a beta of 0.91. NBT Bancorp Inc. has a 52-week low of $31.28 and a 52-week high of $42.56. The firm’s 50 day moving average is $36.60 and its 200-day moving average is $36.26.
NBT Bancorp (NASDAQ:NBTB) last released its 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 firm had revenue of $102.71 million for the quarter, compared to analyst estimates of $101.31 million. NBT Bancorp had a return on equity of 9.01% and a net margin of 20.02%. NBT Bancorp’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. On average, equities analysts forecast that NBT Bancorp Inc. will post $1.96 earnings per share for the current fiscal year.
NBT Bancorp declared that its board has authorized a stock buyback plan on Monday, October 23rd that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.45%. NBT Bancorp’s dividend payout ratio is currently 47.92%.
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A number of large investors have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. lifted its holdings in shares of NBT Bancorp by 43.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 24,041 shares of the bank’s stock valued at $891,000 after buying an additional 7,283 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in NBT Bancorp by 0.9% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,860 shares of the bank’s stock worth $366,000 after purchasing an additional 90 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in NBT Bancorp by 52.1% in the 1st quarter. OppenheimerFunds Inc. now owns 8,273 shares of the bank’s stock worth $307,000 after purchasing an additional 2,834 shares during the last quarter. Teachers Advisors LLC lifted its holdings in NBT Bancorp by 2.6% in the 1st quarter. Teachers Advisors LLC now owns 72,163 shares of the bank’s stock worth $2,675,000 after purchasing an additional 1,824 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in NBT Bancorp by 0.6% in the 1st quarter. Legal & General Group Plc now owns 76,694 shares of the bank’s stock worth $2,844,000 after purchasing an additional 430 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on NBTB. Zacks Investment Research upgraded shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, October 26th. BidaskClub downgraded shares of NBT Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Piper Jaffray Companies restated a “hold” rating and set a $35.50 price objective on shares of NBT Bancorp in a research report on Friday, July 14th. ValuEngine downgraded shares of NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.00 price target on shares of NBT Bancorp in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. NBT Bancorp currently has a consensus rating of “Hold” and an average target price of $37.38.
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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