NBT Bancorp (NASDAQ:NBTB) EVP Ruth Mahoney Sells 5,000 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Ruth Mahoney sold 5,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $46.60, for a total transaction of $233,000.00. Following the transaction, the executive vice president owned 16,428 shares of the company’s stock, valued at $765,544.80. This represents a 23.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

NBT Bancorp Stock Down 0.4%

NBT Bancorp stock opened at $46.24 on Tuesday. NBT Bancorp Inc. has a one year low of $39.19 and a one year high of $47.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $2.40 billion, a P/E ratio of 13.17 and a beta of 0.49. The company has a 50-day simple moving average of $44.85 and a 200-day simple moving average of $43.72.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. The business had revenue of $184.48 million during the quarter, compared to analyst estimates of $185.36 million. As a group, equities analysts expect that NBT Bancorp Inc. will post 4.15 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, June 1st. NBT Bancorp’s dividend payout ratio (DPR) is currently 42.17%.

Hedge Funds Weigh In On NBT Bancorp

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of NBT Bancorp by 1,645.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after purchasing an additional 609 shares during the period. Larson Financial Group LLC increased its position in shares of NBT Bancorp by 13,316.7% during the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after purchasing an additional 799 shares during the period. Bessemer Group Inc. increased its position in shares of NBT Bancorp by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock valued at $35,000 after purchasing an additional 324 shares during the period. Western Wealth Management LLC acquired a new position in shares of NBT Bancorp during the 1st quarter valued at $37,000. Finally, Global Retirement Partners LLC increased its position in shares of NBT Bancorp by 62.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock valued at $43,000 after purchasing an additional 399 shares during the period. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on NBTB shares. Janney Montgomery Scott cut NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Hovde Group lowered their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a research report on Monday, April 27th. DA Davidson restated a “buy” rating and issued a $52.00 target price on shares of NBT Bancorp in a research report on Monday, April 27th. Brean Capital cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Weiss Ratings upgraded NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.50.

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.