Timothy Delaney Buys 22,730 Shares of NBT Bancorp (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) Director Timothy Delaney purchased 22,730 shares of the company’s stock in a transaction that occurred on Wednesday, January 28th. The shares were acquired at an average price of $42.97 per share, for a total transaction of $976,708.10. Following the completion of the acquisition, the director directly owned 74,615 shares of the company’s stock, valued at $3,206,206.55. This trade represents a 43.81% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NBT Bancorp Trading Up 0.7%

Shares of NBT Bancorp stock opened at $44.43 on Friday. The firm has a market cap of $2.32 billion, a PE ratio of 13.46 and a beta of 0.50. NBT Bancorp Inc. has a 1 year low of $37.31 and a 1 year high of $49.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a fifty day moving average price of $42.92 and a 200-day moving average price of $42.32.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, January 26th. The bank reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.06. NBT Bancorp had a net margin of 18.67% and a return on equity of 10.86%. The company had revenue of $185.14 million during the quarter, compared to analyst estimates of $183.63 million. Equities research analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.37 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.48 annualized dividend and a dividend yield of 3.3%. NBT Bancorp’s dividend payout ratio (DPR) is presently 44.85%.

Institutional Trading of NBT Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after purchasing an additional 609 shares during the period. Hantz Financial Services Inc. purchased a new stake in shares of NBT Bancorp in the second quarter worth about $33,000. Larson Financial Group LLC boosted its position in shares of NBT Bancorp by 13,316.7% in the third quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after acquiring an additional 799 shares during the period. Flagship Wealth Advisors LLC purchased a new position in NBT Bancorp during the third quarter valued at approximately $42,000. Finally, Allworth Financial LP bought a new stake in NBT Bancorp during the 3rd quarter worth approximately $46,000. 58.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NBTB. Piper Sandler set a $47.00 price objective on NBT Bancorp and gave the company an “overweight” rating in a report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of NBT Bancorp in a research note on Monday, December 29th. Janney Montgomery Scott raised NBT Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, DA Davidson downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.67.

About NBT Bancorp

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.