NBT Bancorp (NASDAQ:NBTB) EVP Amy Wiles Sells 4,435 Shares

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Amy Wiles sold 4,435 shares of NBT Bancorp stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $45.72, for a total transaction of $202,768.20. Following the transaction, the executive vice president directly owned 21,500 shares of the company’s stock, valued at approximately $982,980. This trade represents a 17.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

NBT Bancorp Stock Down 1.4%

Shares of NASDAQ NBTB traded down $0.64 on Wednesday, reaching $45.07. 45,835 shares of the company’s stock traded hands, compared to its average volume of 207,750. The business’s 50 day simple moving average is $43.86 and its two-hundred day simple moving average is $42.62. NBT Bancorp Inc. has a 12 month low of $37.31 and a 12 month high of $48.22. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 13.67 and a beta of 0.51. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09.

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

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid 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 of this dividend is Monday, March 2nd. NBT Bancorp’s dividend payout ratio is currently 44.85%.

Hedge Funds Weigh In On NBT Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of NBTB. PL Capital Advisors LLC bought a new position in shares of NBT Bancorp in the 2nd quarter worth approximately $16,326,000. Millennium Management LLC increased its holdings in NBT Bancorp by 564.1% during the third quarter. Millennium Management LLC now owns 248,050 shares of the bank’s stock valued at $10,359,000 after buying an additional 210,699 shares during the last quarter. State Street Corp raised its position in NBT Bancorp by 7.8% in the second quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock worth $105,177,000 after acquiring an additional 182,793 shares during the period. Nuveen LLC boosted its stake in shares of NBT Bancorp by 171.0% during 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. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of NBT Bancorp by 63.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock worth $18,741,000 after acquiring an additional 174,639 shares during the last quarter. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NBTB. Janney Montgomery Scott upgraded shares of NBT Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of NBT Bancorp in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.67.

About NBT Bancorp

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.