NBT Bancorp (NASDAQ:NBTB) Director Acquires $976,708.10 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Timothy Delaney bought 22,730 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were acquired at an average cost of $42.97 per share, for a total transaction of $976,708.10. Following the purchase, the director directly owned 74,615 shares in the company, valued at $3,206,206.55. This trade represents a 43.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NBT Bancorp Trading Up 0.7%

NBTB stock opened at $44.43 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. NBT Bancorp Inc. has a 1-year low of $37.31 and a 1-year high of $49.18. The business has a 50 day simple moving average of $42.92 and a two-hundred day simple moving average of $42.31. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 13.46 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, January 26th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. The firm had revenue of $185.14 million for the quarter, compared to the consensus estimate of $183.63 million. NBT Bancorp had a net margin of 18.67% and a return on equity of 10.86%. Research analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, March 2nd. NBT Bancorp’s payout ratio is currently 44.85%.

Institutional Investors Weigh In On NBT Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBTB. EverSource Wealth Advisors LLC grew its position in NBT Bancorp by 1,645.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after purchasing an additional 609 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of NBT Bancorp in the second quarter worth about $33,000. Larson Financial Group LLC boosted its position in NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after purchasing an additional 799 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new stake in NBT Bancorp during the third quarter worth $42,000. Finally, Allworth Financial LP purchased a new stake in shares of NBT Bancorp during the 3rd quarter worth about $46,000. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on NBTB. Janney Montgomery Scott raised shares of NBT Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. DA Davidson downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NBT Bancorp in a research report on Monday, December 29th. Finally, Piper Sandler set a $47.00 price target on shares of NBT Bancorp and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

NBT Bancorp Company Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.