Michael J. Chewens Sells 4,190 Shares of NBT Bancorp Inc. (NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) CFO Michael J. Chewens sold 4,190 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $38.41, for a total transaction of $160,937.90. Following the completion of the sale, the chief financial officer now owns 59,443 shares in the company, valued at $2,283,205.63. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

NBT Bancorp Inc. (NASDAQ:NBTB) traded up $0.29 during mid-day trading on Wednesday, hitting $37.97. 94,767 shares of the stock were exchanged, compared to its average volume of 147,344. NBT Bancorp Inc. has a twelve month low of $31.28 and a twelve month high of $42.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $1,650.00, a price-to-earnings ratio of 19.88 and a beta of 0.89.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. NBT Bancorp had a net margin of 20.02% and a return on equity of 9.01%. The business had revenue of $102.71 million for the quarter, compared to analyst estimates of $101.31 million. During the same quarter in the previous year, the business earned $0.46 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. equities research analysts predict that NBT Bancorp Inc. will post 2 EPS for the current fiscal year.

NBT Bancorp announced that its board has initiated a share buyback plan on Monday, October 23rd that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Several hedge funds have recently added to or reduced their stakes in NBTB. Citadel Advisors LLC raised its holdings in shares of NBT Bancorp by 440.7% during the second quarter. Citadel Advisors LLC now owns 72,367 shares of the bank’s stock valued at $2,674,000 after acquiring an additional 58,984 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of NBT Bancorp by 24.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 272,144 shares of the bank’s stock valued at $9,994,000 after acquiring an additional 53,832 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of NBT Bancorp by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 2,017,225 shares of the bank’s stock valued at $74,073,000 after acquiring an additional 42,291 shares during the period. GSA Capital Partners LLP raised its holdings in shares of NBT Bancorp by 530.8% during the third quarter. GSA Capital Partners LLP now owns 37,142 shares of the bank’s stock valued at $1,364,000 after acquiring an additional 31,254 shares during the period. Finally, Vanguard Group Inc. grew its position in NBT Bancorp by 0.7% during the second quarter. Vanguard Group Inc. now owns 4,097,601 shares of the bank’s stock valued at $151,407,000 after purchasing an additional 30,239 shares in the last quarter. Institutional investors and hedge funds own 49.44% of the company’s stock.

NBTB has been the topic of a number of research reports. Zacks Investment Research downgraded shares of NBT Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.00 target price on shares of NBT Bancorp in a report on Tuesday, October 3rd. BidaskClub downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Sandler O’Neill set a $38.00 price target on shares of NBT Bancorp and gave the company a “hold” rating in a report on Wednesday, January 3rd. Six analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. NBT Bancorp currently has a consensus rating of “Hold” and a consensus target price of $38.25.

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About NBT Bancorp

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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