V Daniel Robinson II Sells 30,000 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director V Daniel Robinson II sold 30,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $44.78, for a total value of $1,343,400.00. Following the sale, the director now owns 387,558 shares in the company, valued at $17,354,847.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

V Daniel Robinson II also recently made the following trade(s):

• On Friday, September 13th, V Daniel Robinson II sold 50,000 shares of NBT Bancorp stock. The shares were sold at an average price of $44.58, for a total transaction of $2,229,000.00.
• On Wednesday, September 11th, V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock. The shares were sold at an average price of $44.10, for a total transaction of $882,000.00.

NBT Bancorp Stock Up 0.6 %

Shares of NBT Bancorp stock traded up $0.27 on Tuesday, reaching $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 has a 50 day moving average price of $46.00 and a 200 day moving average price of $39.53. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.14 billion, a P/E ratio of 17.41 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly 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). NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. The firm had revenue of $194.00 million for the quarter, compared to analyst estimates of $139.02 million. During the same quarter in the prior year, the business posted $0.80 EPS. As a group, equities research analysts forecast that NBT Bancorp Inc. will post 2.86 EPS for the current year.

NBT Bancorp Increases Dividend

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

Institutional Trading of NBT Bancorp

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

Wall Street Analyst Weigh In

A number of analysts have commented on NBTB shares. Stephens reaffirmed an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. Raymond James cut NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. One equities 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.