NBT Bancorp Inc. (NASDAQ:NBTB – Get Free Report) EVP Ruth Mahoney sold 4,500 shares of NBT Bancorp stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $54.30, for a total value of $244,350.00. Following the sale, the executive vice president directly owned 11,928 shares of the company’s stock, valued at approximately $647,690.40. The trade was a 27.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
NBT Bancorp Stock Performance
Shares of NASDAQ NBTB opened at $52.65 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.87. NBT Bancorp Inc. has a one year low of $39.19 and a one year high of $54.50. The business’s 50-day moving average price is $49.14 and its two-hundred day moving average price is $45.77. The company has a market capitalization of $2.74 billion, a P/E ratio of 12.87 and a beta of 0.48.
NBT Bancorp (NASDAQ:NBTB – Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $186.69 million for the quarter, compared to analysts’ expectations of $188.81 million. NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%. Analysts anticipate that NBT Bancorp Inc. will post 4.15 earnings per share for the current fiscal year.
NBT Bancorp Increases Dividend
Key NBT Bancorp News
Here are the key news stories impacting NBT Bancorp this week:
- Positive Sentiment: NBT Bancorp raised its quarterly dividend to $0.40 per share from $0.37, equating to an annualized payout of $1.60 and an approximately 3.0% yield. The increase reinforces the stock’s appeal to income-oriented investors. NBT Bancorp Hits New 12-Month High After Dividend Announcement
- Positive Sentiment: Analyst sentiment was mixed but included bullish target increases: DA Davidson raised its price objective to $59 and retained a “buy” rating, while Piper Sandler previously lifted its target to $56 with an “overweight” rating. Analysts Have Conflicting Sentiments on NBT Bancorp
- Neutral Sentiment: Institutional ownership changes were mixed. Bank of New York Mellon reduced its stake by 2.2%, while Fifth Third Bancorp substantially increased its holding from a very small base. Because the filings reflect earlier-quarter activity, they provide limited insight into current trading conviction. Bank of New York Mellon Holdings
- Negative Sentiment: Stephens downgraded NBTB from “overweight” to “equal weight.” Although it increased its target to $55 from $52, the rating change suggests the analyst sees limited additional upside after the stock’s recent advance.
- Negative Sentiment: EVPs Sarah Halliday and Ruth Mahoney sold a combined 13,500 shares for approximately $730,710. The transactions reduced their individual holdings by roughly 29% and 27%, respectively, potentially weighing on sentiment even though the sales may reflect personal financial planning. Sarah Halliday SEC Filing Ruth Mahoney SEC Filing
- Negative Sentiment: The bank’s latest quarterly results narrowly missed expectations, with earnings of $1.01 per share versus $1.02 expected and revenue of $186.69 million versus $188.81 million forecast. The modest miss, combined with a consensus “hold” rating and an average target near the current price, supports the view that NBTB may be fully valued. NBT Bancorp Looks Fully Valued
Analysts Set New Price Targets
A number of research firms have issued reports on NBTB. Piper Sandler lifted their target price on shares of NBT Bancorp from $50.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Hovde Group dropped their price target on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a research note on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of NBT Bancorp in a report on Tuesday, July 21st. Stephens lowered shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $52.00 to $55.00 in a research note on Thursday. Finally, DA Davidson upped their price objective on shares of NBT Bancorp from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.12.
Get Our Latest Stock Analysis on NBTB
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in NBTB. EverSource Wealth Advisors LLC lifted its holdings in NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after purchasing an additional 609 shares during the last quarter. Larson Financial Group LLC boosted its position in NBT Bancorp by 13,316.7% during the third quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after purchasing an additional 799 shares during the period. Bessemer Group Inc. grew its holdings in NBT Bancorp by 63.8% during the first quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock valued at $35,000 after purchasing an additional 324 shares during the last quarter. Western Wealth Management LLC acquired a new position in NBT Bancorp during the first quarter valued at approximately $37,000. Finally, Global Retirement Partners LLC lifted its stake in shares of NBT Bancorp by 62.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock worth $43,000 after buying an additional 399 shares during the last quarter. 58.46% of the stock is owned by institutional investors.
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.
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