Ruth Mahoney Sells 5,000 Shares of NBT Bancorp (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Ruth Mahoney sold 5,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $46.60, for a total transaction of $233,000.00. Following the sale, the executive vice president directly owned 16,428 shares in the company, valued at approximately $765,544.80. This trade represents a 23.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

NBT Bancorp Price Performance

NASDAQ NBTB opened at $47.21 on Wednesday. The company has a market cap of $2.46 billion, a PE ratio of 13.45 and a beta of 0.49. NBT Bancorp Inc. has a 52 week low of $39.19 and a 52 week high of $47.72. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm’s 50-day simple moving average is $44.96 and its two-hundred day simple moving average is $43.77.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data 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 for 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%. Research analysts predict that NBT Bancorp Inc. will post 4.15 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.48 annualized dividend and a yield of 3.1%. NBT Bancorp’s dividend payout ratio is 42.17%.

Analysts Set New Price Targets

Several equities research analysts have commented on NBTB shares. Weiss Ratings raised shares of NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Piper Sandler initiated coverage on shares of NBT Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $50.00 price target on the stock. Janney Montgomery Scott downgraded shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. DA Davidson reissued a “buy” rating and issued a $52.00 price target on shares of NBT Bancorp in a report on Monday, April 27th. Finally, Brean Capital downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, NBT Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $49.50.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Western Wealth Management LLC purchased a new stake in shares of NBT Bancorp in the first quarter worth about $37,000. Bank of America Corp DE lifted its holdings in shares of NBT Bancorp by 32.5% in the first quarter. Bank of America Corp DE now owns 161,740 shares of the bank’s stock worth $6,887,000 after buying an additional 39,665 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of NBT Bancorp in the first quarter worth about $3,590,000. Amundi increased its position in shares of NBT Bancorp by 13.0% in the first quarter. Amundi now owns 8,497 shares of the bank’s stock worth $362,000 after purchasing an additional 980 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of NBT Bancorp in the first quarter worth approximately $1,545,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Company Profile

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.