NBT Bancorp (NASDAQ:NBTB) EVP Ruth Mahoney Sells 4,500 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Ruth Mahoney sold 4,500 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $54.30, for a total transaction of $244,350.00. Following the sale, the executive vice president directly owned 11,928 shares in the company, valued at $647,690.40. This trade represents a 27.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

NBT Bancorp Stock Down 2.5%

NBTB opened at $52.93 on Friday. NBT Bancorp Inc. has a fifty-two week low of $39.19 and a fifty-two week high of $54.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.87 and a current ratio of 0.87. The company has a fifty day moving average of $49.00 and a two-hundred day moving average of $45.72. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 12.94 and a beta of 0.48.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, July 27th. The bank reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%.The firm had revenue of $186.69 million during the quarter, compared to analyst estimates of $188.81 million. On average, research analysts expect that NBT Bancorp Inc. will post 4.13 earnings per share for the current year.

NBT Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.37. NBT Bancorp’s payout ratio is currently 36.19%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NBTB. State Street Corp lifted its position in NBT Bancorp by 7.8% during the second quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock worth $105,177,000 after buying an additional 182,793 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in NBT Bancorp by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,330,975 shares of the bank’s stock valued at $99,252,000 after buying an additional 30,141 shares in the last quarter. Victory Capital Management Inc. grew its holdings in NBT Bancorp by 2.0% in the 4th quarter. Victory Capital Management Inc. now owns 663,092 shares of the bank’s stock valued at $27,532,000 after buying an additional 12,967 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in NBT Bancorp by 29.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 560,259 shares of the bank’s stock valued at $23,856,000 after buying an additional 128,316 shares in the last quarter. Finally, Nuveen LLC increased its stake in shares of NBT Bancorp by 171.0% in the 4th quarter. Nuveen LLC now owns 286,107 shares of the bank’s stock worth $11,879,000 after acquiring an additional 180,528 shares during the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NBTB. Stephens lowered NBT Bancorp from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $52.00 to $55.00 in a report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of NBT Bancorp in a research report on Tuesday, July 21st. Hovde Group reduced their price objective on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research report on Monday, April 27th. Piper Sandler increased their price objective on shares of NBT Bancorp from $50.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Finally, DA Davidson lifted their target price on shares of NBT Bancorp from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $54.12.

Key Headlines Impacting NBT Bancorp

Here are the key news stories impacting NBT Bancorp this week:

• Positive Sentiment: NBT Bancorp recently reached a new 12-month high following a dividend announcement, suggesting investors viewed the higher payout favorably. NBT Bancorp Hits New 12-Month High After Dividend Announcement
• Positive Sentiment: Management’s second-quarter earnings call highlighted robust momentum, while the company’s dividend increase provides an additional income-oriented attraction for shareholders. NBT Bancorp Earnings Call Highlights Robust Momentum
• Neutral Sentiment: Institutional ownership changes were mixed: Bank of New York Mellon reduced its position by 2.2%, while Fifth Third Bancorp reported a significant percentage increase from a small existing base. These filings indicate limited near-term conviction because they reflect earlier-quarter activity. Bank of New York Mellon Holdings
• Negative Sentiment: Stephens downgraded NBT Bancorp from “overweight” to “equal weight.” Although its price target increased to $55 from $52, the new rating indicates the firm believes much of the upside has already been reflected in the share price.
• Negative Sentiment: Two executive vice presidents sold a combined 13,500 shares for approximately $730,710. Each transaction reduced the respective executive’s ownership by more than 27%, potentially raising concerns about insider confidence, although the sales may also reflect personal financial planning. Sarah A. Halliday SEC Filing Ruth H. Mahoney SEC Filing
• Negative Sentiment: Recent coverage characterized NBT Bancorp as fully valued after its second-quarter results and dividend hike. The bank narrowly missed quarterly earnings and revenue expectations, reporting $1.01 in earnings per share versus a $1.02 consensus and $186.69 million in revenue versus $188.81 million expected. NBT Bancorp Looks Fully Valued After Q2 Earnings and Dividend Hike

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.