Insider Buying: NBT Bancorp Inc. (NASDAQ:NBTB) Director Buys $110,315.13 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Heidi M. Hoeller acquired 2,553 shares of the company’s stock in a transaction on Tuesday, April 29th. The shares were bought at an average cost of $43.21 per share, with a total value of $110,315.13. Following the acquisition, the director now directly owns 8,990 shares in the company, valued at approximately $388,457.90. The trade was a 39.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

NBT Bancorp Trading Up 2.1 %

Shares of NBTB opened at $43.41 on Friday. The company’s fifty day simple moving average is $42.35 and its 200-day simple moving average is $46.09. The company has a market cap of $2.05 billion, a P/E ratio of 14.67 and a beta of 0.53. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a twelve month low of $34.47 and a twelve month high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. The company had revenue of $155.31 million for the quarter, compared to analyst estimates of $151.00 million. During the same period in the prior year, the company posted $0.68 EPS. As a group, analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current year.

Hedge Funds Weigh In On NBT Bancorp

A number of large investors have recently bought and sold shares of the business. TD Private Client Wealth LLC lifted its position in shares of NBT Bancorp by 51.3% during the first quarter. TD Private Client Wealth LLC now owns 867 shares of the bank’s stock worth $37,000 after purchasing an additional 294 shares during the last quarter. GAMMA Investing LLC increased its stake in NBT Bancorp by 66.5% in the 4th quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock worth $62,000 after buying an additional 517 shares during the period. Cloud Capital Management LLC purchased a new stake in NBT Bancorp in the 1st quarter valued at about $68,000. Sterling Capital Management LLC grew its stake in NBT Bancorp by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank’s stock worth $69,000 after acquiring an additional 1,292 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in shares of NBT Bancorp during the fourth quarter worth approximately $87,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NBTB shares. DA Davidson dropped their price target on NBT Bancorp from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a report on Wednesday, January 29th. Hovde Group initiated coverage on shares of NBT Bancorp in a research report on Friday, March 21st. They issued a “market perform” rating and a $50.00 price target on the stock. Finally, StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $52.75.

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.