Timothy Delaney Purchases 22,730 Shares of NBT Bancorp (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Timothy Delaney purchased 22,730 shares of the firm’s stock in a transaction on Wednesday, January 28th. The shares were purchased at an average price of $42.97 per share, with a total value of $976,708.10. Following the completion of the acquisition, the director directly owned 74,615 shares of the company’s stock, valued at approximately $3,206,206.55. This trade represents a 43.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

NBT Bancorp Price Performance

Shares of NBT Bancorp stock traded up $0.79 during midday trading on Thursday, hitting $43.41. 108,526 shares of the company were exchanged, compared to its average volume of 196,977. NBT Bancorp Inc. has a 52 week low of $37.31 and a 52 week high of $49.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $42.78 and a 200-day simple moving average of $42.30. The firm has a market cap of $2.27 billion, a P/E ratio of 13.16 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, January 26th. The bank reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $185.14 million during the quarter, compared to analyst estimates of $183.63 million. NBT Bancorp had a net margin of 18.67% and a return on equity of 10.86%. Research analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.48 annualized dividend and a dividend yield of 3.4%. NBT Bancorp’s dividend payout ratio (DPR) is currently 49.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NBTB shares. Weiss Ratings reiterated a “hold (c)” rating on shares of NBT Bancorp in a research note on Monday, December 29th. DA Davidson lowered NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Janney Montgomery Scott raised shares of NBT Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Piper Sandler set a $47.00 price target on NBT Bancorp and gave the company an “overweight” rating in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, NBT Bancorp currently has an average rating of “Moderate Buy” and an average price target of $50.67.

Institutional Trading of NBT Bancorp

Several institutional investors have recently made changes to their positions in NBTB. PL Capital Advisors LLC acquired a new position in shares of NBT Bancorp in the 2nd quarter valued at approximately $16,326,000. Millennium Management LLC lifted its position in shares of NBT Bancorp by 564.1% during the 3rd quarter. Millennium Management LLC now owns 248,050 shares of the bank’s stock valued at $10,359,000 after acquiring an additional 210,699 shares during the period. State Street Corp grew its holdings in shares of NBT Bancorp by 7.8% during the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock worth $105,177,000 after purchasing an additional 182,793 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in NBT Bancorp by 63.2% in the second quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock valued at $18,741,000 after purchasing an additional 174,639 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in NBT Bancorp during the second quarter worth about $6,286,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

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.