V Daniel Robinson II Sells 50,000 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director V Daniel Robinson II sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.58, for a total value of $2,229,000.00. Following the transaction, the director now directly owns 417,558 shares in the company, valued at approximately $18,614,735.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, September 16th, V Daniel Robinson II sold 30,000 shares of NBT Bancorp stock. The stock was sold at an average price of $44.78, for a total transaction of $1,343,400.00.
• 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 Trading Up 0.5 %

Shares of NBTB opened at $45.18 on Thursday. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 17.44 and a beta of 0.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.86. 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 of $46.24 and a 200 day moving average of $39.65.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, July 22nd. The bank reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The company had revenue of $194.00 million for 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 period last year, the business posted $0.80 earnings per share. On average, research analysts expect that NBT Bancorp Inc. will post 2.86 EPS for the current year.

NBT Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.01%. NBT Bancorp’s payout ratio is 52.51%.

Hedge Funds Weigh In On NBT Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake in NBT Bancorp by 150.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank’s stock worth $1,104,000 after acquiring an additional 19,661 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of NBT Bancorp during the first quarter valued at approximately $796,000. Charles Schwab Investment Management Inc. increased its holdings in NBT Bancorp by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 530,209 shares of the bank’s stock valued at $22,221,000 after buying an additional 25,528 shares during the period. Hsbc Holdings PLC bought a new position in NBT Bancorp in the fourth quarter worth approximately $11,434,000. Finally, Russell Investments Group Ltd. lifted its holdings in NBT Bancorp by 978.7% during the first quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock worth $3,318,000 after buying an additional 82,071 shares during the period. Institutional investors own 58.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Stephens reiterated an “equal weight” rating and set a $49.00 price target 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 research note on Wednesday, July 24th. One investment 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’s stock. Based on data from MarketBeat, NBT Bancorp currently has a consensus rating of “Hold” and a consensus 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.