According to Zacks, “NBT BANCORP INC. is a one bank holding company engaged in general banking business. “
Separately, Keefe, Bruyette & Woods increased their price objective on shares of NBT Bancorp from $27.00 to $28.00 and gave the stock a market perform rating in a research report on Friday, July 29th.
Shares of NBT Bancorp (NASDAQ:NBTB) opened at 32.67 on Wednesday. NBT Bancorp has a 12 month low of $23.81 and a 12 month high of $33.04. The firm’s 50-day moving average is $32.12 and its 200 day moving average is $29.39. The company has a market capitalization of $1.41 billion, a PE ratio of 18.46 and a beta of 0.91.
NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data 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. NBT Bancorp had a net margin of 19.38% and a return on equity of 8.79%. The company earned $95.39 million during the quarter. During the same quarter last year, the company earned $0.43 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that NBT Bancorp will post $1.80 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.82%. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is presently 51.98%.
In other NBT Bancorp news, CEO Martin A. Dietrich sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $29.78, for a total value of $744,500.00. Following the completion of the sale, the chief executive officer now directly owns 187,815 shares in the company, valued at $5,593,130.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey M. Levy sold 31,000 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $29.83, for a total transaction of $924,730.00. Following the completion of the sale, the executive vice president now owns 57,139 shares of the company’s stock, valued at $1,704,456.37. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of NBTB. BlackRock Institutional Trust Company N.A. boosted its stake in NBT Bancorp by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,184,153 shares of the company’s stock worth $31,913,000 after buying an additional 8,379 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in NBT Bancorp by 5.9% in the first quarter. TIAA CREF Investment Management LLC now owns 152,770 shares of the company’s stock worth $4,117,000 after buying an additional 8,479 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in NBT Bancorp by 3.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 14,416 shares of the company’s stock worth $389,000 after buying an additional 475 shares during the last quarter. BlackRock Group LTD boosted its stake in NBT Bancorp by 3.8% in the first quarter. BlackRock Group LTD now owns 68,224 shares of the company’s stock worth $1,839,000 after buying an additional 2,517 shares during the last quarter. Finally, Legal & General Group Plc boosted 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 worth $321,000 after buying an additional 2,386 shares during the last quarter. Institutional investors and hedge funds own 46.02% of the company’s stock.
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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