John H. Watt, Jr. Sells 7,869 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director John H. Watt, Jr. sold 7,869 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the transaction, the director now directly owns 116,027 shares in the company, valued at approximately $4,875,454.54. This trade represents a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NBT Bancorp Trading Up 0.2%

NBTB opened at $42.04 on Friday. NBT Bancorp Inc. has a fifty-two week low of $34.47 and a fifty-two week high of $52.44. The firm has a market capitalization of $1.99 billion, a PE ratio of 14.20 and a beta of 0.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The company’s 50-day moving average is $41.86 and its 200 day moving average is $45.72.

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

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.36 annualized dividend and a yield of 3.24%. NBT Bancorp’s dividend payout ratio (DPR) is currently 45.03%.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of NBTB. TD Private Client Wealth LLC boosted its holdings in NBT Bancorp by 51.3% during the 1st quarter. TD Private Client Wealth LLC now owns 867 shares of the bank’s stock worth $37,000 after acquiring an additional 294 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in shares of NBT Bancorp in the first quarter valued at about $68,000. Sterling Capital Management LLC lifted its position in shares of NBT Bancorp by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,292 shares in the last quarter. Rialto Wealth Management LLC bought a new position in shares of NBT Bancorp during the fourth quarter valued at about $87,000. Finally, US Bancorp DE boosted its holdings in NBT Bancorp by 42.0% during the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock worth $88,000 after purchasing an additional 543 shares during the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on NBTB. Hovde Group started coverage on NBT Bancorp in a research note on Friday, March 21st. They issued a “market perform” rating and a $50.00 price objective for the company. Wall Street Zen cut NBT Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, DA Davidson reduced their price target on shares of NBT Bancorp from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.