NBT Bancorp (NASDAQ:NBTB) EVP Sells $486,360.00 in Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Sarah Halliday sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $54.04, for a total value of $486,360.00. Following the completion of the sale, the executive vice president owned 22,054 shares in the company, valued at approximately $1,191,798.16. This represents a 28.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $52.65 on Friday. The business has a 50 day moving average price of $49.14 and a 200 day moving average price of $45.77. The company has a market capitalization of $2.74 billion, a P/E ratio of 12.87 and a beta of 0.48. NBT Bancorp Inc. has a 1-year low of $39.19 and a 1-year high of $54.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, July 27th. The bank reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). The firm had revenue of $186.69 million for the quarter, compared to analysts’ expectations of $188.81 million. NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%. Sell-side analysts expect that NBT Bancorp Inc. will post 4.15 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.40 per share. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. NBT Bancorp’s dividend payout ratio is presently 36.19%.

Analyst Upgrades and Downgrades

NBTB has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of NBT Bancorp in a research note on Tuesday, July 21st. DA Davidson lifted their target price on shares of NBT Bancorp from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday. Hovde Group reduced their price target on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a report on Monday, April 27th. Piper Sandler increased their price target on shares of NBT Bancorp from $50.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Finally, Stephens lowered shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $52.00 to $55.00 in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, NBT Bancorp presently has a consensus rating of “Hold” and a consensus price target of $54.12.

Institutional Trading of NBT Bancorp

A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in NBT Bancorp by 22.3% in the 1st quarter. Royal Bank of Canada now owns 40,303 shares of the bank’s stock valued at $1,729,000 after purchasing an additional 7,349 shares during the last quarter. AQR Capital Management LLC lifted its holdings in NBT Bancorp by 45.0% in the 1st quarter. AQR Capital Management LLC now owns 13,630 shares of the bank’s stock valued at $585,000 after purchasing an additional 4,231 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NBT Bancorp by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,388 shares of the bank’s stock worth $1,175,000 after purchasing an additional 1,197 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of NBT Bancorp by 15.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 165,550 shares of the bank’s stock worth $7,102,000 after purchasing an additional 22,655 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of NBT Bancorp by 1,188.4% during the 1st quarter. Jane Street Group LLC now owns 88,284 shares of the bank’s stock worth $3,787,000 after purchasing an additional 81,432 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

Key Headlines Impacting NBT Bancorp

Here are the key news stories impacting NBT Bancorp this week:

• Positive Sentiment: NBT Bancorp raised its quarterly dividend to $0.40 per share from $0.37, equating to an annualized payout of $1.60 and an approximately 3.0% yield. The increase reinforces the stock’s appeal to income-oriented investors. NBT Bancorp Hits New 12-Month High After Dividend Announcement
• Positive Sentiment: Analyst sentiment was mixed but included bullish target increases: DA Davidson raised its price objective to $59 and retained a “buy” rating, while Piper Sandler previously lifted its target to $56 with an “overweight” rating. Analysts Have Conflicting Sentiments on NBT Bancorp
• Neutral Sentiment: Institutional ownership changes were mixed. Bank of New York Mellon reduced its stake by 2.2%, while Fifth Third Bancorp substantially increased its holding from a very small base. Because the filings reflect earlier-quarter activity, they provide limited insight into current trading conviction. Bank of New York Mellon Holdings
• Negative Sentiment: Stephens downgraded NBTB from “overweight” to “equal weight.” Although it increased its target to $55 from $52, the rating change suggests the analyst sees limited additional upside after the stock’s recent advance.
• Negative Sentiment: EVPs Sarah Halliday and Ruth Mahoney sold a combined 13,500 shares for approximately $730,710. The transactions reduced their individual holdings by roughly 29% and 27%, respectively, potentially weighing on sentiment even though the sales may reflect personal financial planning. Sarah Halliday SEC Filing Ruth Mahoney SEC Filing
• Negative Sentiment: The bank’s latest quarterly results narrowly missed expectations, with earnings of $1.01 per share versus $1.02 expected and revenue of $186.69 million versus $188.81 million forecast. The modest miss, combined with a consensus “hold” rating and an average target near the current price, supports the view that NBTB may be fully valued. NBT Bancorp Looks Fully Valued

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.