NBT Bancorp Inc. (NASDAQ:NBTB) CEO Martin A. Dietrich sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $32.67, for a total value of $816,750.00. Following the completion of the transaction, the chief executive officer now directly owns 191,345 shares of the company’s stock, valued at approximately $6,251,241.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NBT Bancorp Inc. (NASDAQ:NBTB) opened at 32.76 on Friday. NBT Bancorp Inc. has a 52-week low of $23.81 and a 52-week high of $33.04. The firm has a market cap of $1.41 billion, a P/E ratio of 18.51 and a beta of 0.94. The firm’s 50-day moving average is $31.83 and its 200-day moving average is $29.11.
NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, July 25th. The company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The company had revenue of $95.39 million for the quarter. NBT Bancorp had a return on equity of 8.79% and a net margin of 19.38%. NBT Bancorp’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 earnings per share. Analysts anticipate that NBT Bancorp Inc. will post $1.80 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.81%. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, August 30th. NBT Bancorp’s dividend payout ratio is presently 51.98%.
A number of large investors have recently modified their holdings of NBTB. Community Bank N.A. increased its stake in NBT Bancorp by 0.3% in the second quarter. Community Bank N.A. now owns 63,215 shares of the company’s stock valued at $1,810,000 after buying an additional 170 shares during the period. Capstone Asset Management Co. increased its stake in NBT Bancorp by 3.1% in the second quarter. Capstone Asset Management Co. now owns 11,306 shares of the company’s stock valued at $324,000 after buying an additional 340 shares during the period. BNP Paribas Arbitrage SA increased its stake in NBT Bancorp by 105.9% in the second quarter. BNP Paribas Arbitrage SA now owns 13,899 shares of the company’s stock valued at $398,000 after buying an additional 7,147 shares during the period. Arizona State Retirement System increased its stake in NBT Bancorp by 3.8% in the first quarter. Arizona State Retirement System now owns 22,112 shares of the company’s stock valued at $596,000 after buying an additional 800 shares during the period. Finally, Legal & General Group Plc increased its stake in NBT Bancorp by 25.2% in the first quarter. Legal & General Group Plc now owns 11,859 shares of the company’s stock valued at $321,000 after buying an additional 2,386 shares during the period. 46.02% of the stock is currently owned by institutional investors.
Several research analysts have recently issued reports on NBTB shares. Zacks Investment Research raised NBT Bancorp from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Friday, July 29th. Keefe, Bruyette & Woods upped their price objective on NBT Bancorp from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Friday, July 29th.
About NBT Bancorp
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and other subsidiaries, which provide commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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