Amy Wiles Sells 556 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Amy Wiles sold 556 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $25,020.00. Following the completion of the transaction, the executive vice president now owns 28,909 shares of the company’s stock, valued at approximately $1,300,905. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NBT Bancorp Stock Performance

NBTB traded up $0.27 during trading hours on Tuesday, hitting $45.35. The stock had a trading volume of 113,440 shares, compared to its average volume of 201,402. NBT Bancorp Inc. has a 1 year low of $30.31 and a 1 year high of $50.83. The company’s fifty day simple moving average is $46.00 and its 200 day simple moving average is $39.53. The stock has a market cap of $2.14 billion, a PE ratio of 17.41 and a beta of 0.50. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17.

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

NBT Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.00%. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 30th. NBT Bancorp’s payout ratio is presently 52.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of NBT Bancorp by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 530,209 shares of the bank’s stock worth $22,221,000 after purchasing an additional 25,528 shares during the period. Dimensional Fund Advisors LP raised its stake in NBT Bancorp by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,173,297 shares of the bank’s stock valued at $91,086,000 after purchasing an additional 17,039 shares in the last quarter. Beacon Pointe Advisors LLC increased its holdings in shares of NBT Bancorp by 2.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 18,103 shares of the bank’s stock worth $759,000 after buying an additional 394 shares during the last quarter. Norges Bank bought a new stake in shares of NBT Bancorp during the 4th quarter worth $12,547,000. Finally, Hsbc Holdings PLC bought a new position in NBT Bancorp in the fourth quarter valued at $11,434,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James downgraded shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Stephens reiterated an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, NBT Bancorp currently has an average 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.