Martin Randolph Sparks Sells 1,000 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Martin Randolph Sparks sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the completion of the sale, the executive vice president now directly owns 15,003 shares of the company’s stock, valued at approximately $725,695.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

NBT Bancorp Trading Up 1.8 %

Shares of NBTB opened at $44.83 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.87. NBT Bancorp Inc. has a one year low of $30.31 and a one year high of $50.83. The stock has a 50-day moving average price of $45.86 and a 200 day moving average price of $39.42. The company has a market capitalization of $2.11 billion, a P/E ratio of 17.31 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, July 22nd. The bank reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). The business had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $139.02 million. NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. During the same quarter last year, the company posted $0.80 earnings per share. Sell-side analysts forecast that NBT Bancorp Inc. will post 2.86 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.34 per share. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.03%. The ex-dividend date was Friday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is currently 52.51%.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors have recently modified their holdings of NBTB. Deprince Race & Zollo Inc. grew its stake in NBT Bancorp by 14.9% in the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after purchasing an additional 107,404 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of NBT Bancorp in the 2nd quarter worth approximately $214,000. Public Sector Pension Investment Board increased its holdings in shares of NBT Bancorp by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 103,705 shares of the bank’s stock valued at $4,003,000 after acquiring an additional 7,183 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its position in shares of NBT Bancorp by 49.6% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 28,213 shares of the bank’s stock valued at $1,089,000 after acquiring an additional 9,349 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of NBT Bancorp during the 2nd quarter valued at approximately $1,974,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NBTB. Stephens restated an “equal weight” rating and issued a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. Raymond James cut shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.60.

NBT Bancorp Company Profile

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.