Timothy E. Delaney Sells 40,000 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the sale, the director now directly owns 38,853 shares in the company, valued at $1,999,763.91. This trade represents a 50.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

NBT Bancorp Stock Down 1.4 %

Shares of NASDAQ:NBTB opened at $49.63 on Friday. The business’s 50 day simple moving average is $45.24 and its two-hundred day simple moving average is $42.53. The firm has a market cap of $2.34 billion, a P/E ratio of 17.47 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp Inc. has a 52-week low of $32.79 and a 52-week high of $51.93.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The company had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. During the same quarter last year, the company earned $0.84 earnings per share. As a group, research analysts forecast that NBT Bancorp Inc. will post 2.91 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.34 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.74%. NBT Bancorp’s dividend payout ratio is presently 47.89%.

Analysts Set New Price Targets

Several brokerages have issued reports on NBTB. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Stephens reiterated an “equal weight” rating and issued a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. Finally, StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, NBT Bancorp presently has an average rating of “Hold” and a consensus price target of $42.60.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NBTB. State Board of Administration of Florida Retirement System lifted its holdings in NBT Bancorp by 150.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank’s stock worth $1,104,000 after acquiring an additional 19,661 shares during the period. Russell Investments Group Ltd. lifted its holdings in NBT Bancorp by 978.7% during the first quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock worth $3,318,000 after acquiring an additional 82,071 shares during the period. Edgestream Partners L.P. bought a new stake in NBT Bancorp during the second quarter worth $1,974,000. Inspire Investing LLC lifted its holdings in NBT Bancorp by 6.9% during the first quarter. Inspire Investing LLC now owns 9,759 shares of the bank’s stock worth $358,000 after acquiring an additional 634 shares during the period. Finally, Ceredex Value Advisors LLC lifted its holdings in NBT Bancorp by 2.6% during the second quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock worth $8,473,000 after acquiring an additional 5,500 shares during the period. Institutional investors own 58.46% of the company’s stock.

About NBT Bancorp

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.