Insider Buying: NBT Bancorp (NASDAQ:NBTB) Director Acquires $81,000.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Timothy Delaney bought 2,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was purchased at an average price of $40.50 per share, with a total value of $81,000.00. Following the completion of the purchase, the director directly owned 41,885 shares of the company’s stock, valued at approximately $1,696,342.50. This trade represents a 5.01% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NBT Bancorp Trading Up 2.4%

NASDAQ NBTB opened at $41.72 on Thursday. NBT Bancorp Inc. has a 12 month low of $37.31 and a 12 month high of $52.44. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.91 and a beta of 0.55. The company’s fifty day moving average price is $42.01 and its two-hundred day moving average price is $42.24.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, October 27th. The bank reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.08. NBT Bancorp had a net margin of 17.24% and a return on equity of 10.35%. The firm had revenue of $186.07 million for the quarter, compared to the consensus estimate of $183.87 million. 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 disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, December 1st. NBT Bancorp’s dividend payout ratio is 49.33%.

Institutional Trading of NBT Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of NBTB. KBC Group NV raised its holdings in shares of NBT Bancorp by 28.4% during the first quarter. KBC Group NV now owns 2,763 shares of the bank’s stock worth $119,000 after purchasing an additional 611 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of NBT Bancorp in the 1st quarter worth about $323,000. Principal Financial Group Inc. increased its holdings in shares of NBT Bancorp by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 234,849 shares of the bank’s stock worth $10,075,000 after acquiring an additional 6,150 shares during the period. Cloud Capital Management LLC acquired a new stake in shares of NBT Bancorp in the 1st quarter worth about $68,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of NBT Bancorp by 30.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 17,275 shares of the bank’s stock worth $741,000 after acquiring an additional 4,071 shares during the period. 58.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NBTB. Wall Street Zen upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Piper Sandler set a $47.00 price objective on shares of NBT Bancorp and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Janney Montgomery Scott raised shares of NBT Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of NBT Bancorp in a report on Wednesday, October 8th. Finally, DA Davidson cut shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.00.

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.