Insider Selling: NBT Bancorp Inc. (NASDAQ:NBTB) Director Sells 10,000 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Jack H. Webb sold 10,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $50.06, for a total value of $500,600.00. Following the sale, the director now directly owns 45,018 shares of the company’s stock, valued at $2,253,601.08. This represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NBT Bancorp Stock Performance

Shares of NASDAQ:NBTB opened at $50.08 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 1-year low of $32.79 and a 1-year high of $52.31. The stock has a market capitalization of $2.36 billion, a P/E ratio of 17.63 and a beta of 0.49. The business has a 50-day moving average price of $46.13 and a two-hundred day moving average price of $43.44.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The business had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. During the same period in the previous year, the firm posted $0.84 earnings per share. Equities analysts predict that NBT Bancorp Inc. will post 2.91 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.72%. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

Hedge Funds Weigh In On NBT Bancorp

Several hedge funds have recently added to or reduced their stakes in NBTB. GAMMA Investing LLC grew its position in shares of NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after buying an additional 252 shares during the period. US Bancorp DE acquired a new position in NBT Bancorp during the third quarter valued at approximately $57,000. Quest Partners LLC bought a new stake in NBT Bancorp in the third quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of NBT Bancorp during the third quarter worth $103,000. Finally, AQR Capital Management LLC bought a new position in NBT Bancorp during the second quarter worth about $214,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analyst Ratings Changes

NBTB has been the subject of a number of research reports. Stephens restated an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.60.

About NBT Bancorp

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.