NBT Bancorp Inc. (NASDAQ:NBTB – Get Free Report) Director Heidi Hoeller sold 2,100 shares of NBT Bancorp stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $48.03, for a total value of $100,863.00. Following the completion of the sale, the director owned 11,560 shares of the company’s stock, valued at $555,226.80. This trade represents a 15.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NBT Bancorp Stock Up 1.1%
NBTB opened at $48.18 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 13.73 and a beta of 0.49. The business has a 50-day moving average of $45.27 and a two-hundred day moving average of $43.90. NBT Bancorp Inc. has a 12 month low of $39.19 and a 12 month high of $48.26.
NBT Bancorp (NASDAQ:NBTB – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). The business had revenue of $184.48 million during the quarter, compared to analysts’ expectations of $185.36 million. NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. On average, research analysts expect that NBT Bancorp Inc. will post 4.15 earnings per share for the current year.
NBT Bancorp Announces Dividend
Analysts Set New Price Targets
Several analysts have commented on the company. Piper Sandler assumed coverage on NBT Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $50.00 price target for the company. Hovde Group lowered their price target on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a report on Monday, April 27th. DA Davidson restated a “buy” rating and issued a $52.00 price target on shares of NBT Bancorp in a report on Monday, April 27th. Janney Montgomery Scott cut NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. Finally, Brean Capital lowered NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.50.
Check Out Our Latest Research Report on NBTB
Hedge Funds Weigh In On NBT Bancorp
Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its stake in shares of NBT Bancorp by 7.8% in the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after purchasing an additional 182,793 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 purchasing an additional 30,141 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of 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 purchasing an additional 12,967 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of 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 purchasing an additional 128,316 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of NBT Bancorp by 26.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock valued at $13,986,000 after purchasing an additional 70,594 shares in the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.
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.
Featured Stories
- Five stocks we like better than NBT Bancorp
- Time to Sell? 3 Winners With Fading Technical Momentum
- Why These 2 Hotel Stocks Are Beating Travel Peers
- This Energy Stock Has Quietly Soared 130% in a Year
- 3 ‘Boring’ Dividend Stocks With Tasty Technical Setups
Receive News & Ratings for NBT Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NBT Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
