Timothy Delaney Purchases 10,000 Shares of NBT Bancorp (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Timothy Delaney acquired 10,000 shares of NBT Bancorp stock in a transaction on Thursday, November 6th. The shares were bought at an average price of $40.98 per share, for a total transaction of $409,800.00. Following the completion of the purchase, the director directly owned 51,885 shares in the company, valued at $2,126,247.30. The trade was a 23.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $41.61 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.88 and a current ratio of 0.88. NBT Bancorp Inc. has a 1 year low of $37.31 and a 1 year high of $52.44. The firm’s 50-day simple moving average is $41.88 and its 200-day simple moving average is $42.25. The firm has a market cap of $2.18 billion, a PE ratio of 13.87 and a beta of 0.55.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, October 27th. The bank reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. NBT Bancorp had a return on equity of 10.35% and a net margin of 17.24%.The business had revenue of $186.07 million during the quarter, compared to the consensus estimate of $183.87 million. Equities analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, December 1st. NBT Bancorp’s dividend payout ratio is currently 49.33%.

Hedge Funds Weigh In On NBT Bancorp

Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of NBT Bancorp in the 3rd quarter worth about $291,000. JPMorgan Chase & Co. grew its position in NBT Bancorp by 26.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock worth $13,986,000 after purchasing an additional 70,594 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of NBT Bancorp by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 204,320 shares of the bank’s stock valued at $8,532,000 after purchasing an additional 25,924 shares during the period. Savant Capital LLC raised its holdings in shares of NBT Bancorp by 168.4% during the third quarter. Savant Capital LLC now owns 71,060 shares of the bank’s stock valued at $2,967,000 after buying an additional 44,585 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new position in shares of NBT Bancorp during the third quarter worth approximately $66,000. Institutional investors own 58.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Piper Sandler set a $47.00 price objective on NBT Bancorp and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Janney Montgomery Scott upgraded shares of NBT Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. Wall Street Zen raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of NBT Bancorp in a research note 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 issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, NBT Bancorp has a consensus rating of “Moderate Buy” and an average target price of $52.00.

NBT Bancorp Company Profile

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.