Insider Selling: NBT Bancorp Inc. (NASDAQ:NBTB) Director Sells 4,770 Shares of Stock

NBT Bancorp Inc. (NASDAQ:NBTBGet Free Report) Director Lowell A. Seifter sold 4,770 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $37.50, for a total value of $178,875.00. Following the completion of the transaction, the director now directly owns 44,362 shares of the company’s stock, valued at $1,663,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NBT Bancorp Stock Performance

Shares of NASDAQ:NBTB opened at $35.57 on Thursday. The firm has a market capitalization of $1.68 billion, a PE ratio of 13.37 and a beta of 0.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $39.48 and a two-hundred day moving average of $36.08. NBT Bancorp Inc. has a 12 month low of $27.52 and a 12 month high of $43.77.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $1.28 annualized dividend and a yield of 3.60%. NBT Bancorp’s dividend payout ratio is presently 48.12%.

Institutional Investors Weigh In On NBT Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in NBT Bancorp by 3.5% during the third quarter. Royal Bank of Canada now owns 8,079 shares of the bank’s stock worth $306,000 after acquiring an additional 275 shares during the last quarter. Blue Trust Inc. increased its stake in NBT Bancorp by 69.9% during the fourth quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock worth $28,000 after acquiring an additional 276 shares during the last quarter. MetLife Investment Management LLC increased its stake in NBT Bancorp by 1.7% during the fourth quarter. MetLife Investment Management LLC now owns 21,828 shares of the bank’s stock worth $948,000 after acquiring an additional 369 shares during the last quarter. Yousif Capital Management LLC increased its stake in NBT Bancorp by 1.7% during the third quarter. Yousif Capital Management LLC now owns 24,274 shares of the bank’s stock worth $769,000 after acquiring an additional 395 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in NBT Bancorp by 7.7% during the second quarter. ProShare Advisors LLC now owns 6,564 shares of the bank’s stock worth $209,000 after acquiring an additional 472 shares during the last quarter. 58.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods dropped their target price on NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Piper Sandler dropped their target price on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. StockNews.com assumed coverage on NBT Bancorp in a research note on Thursday, October 5th. They issued a “sell” rating for the company. Finally, Raymond James upped their target price on NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.50.

View Our Latest Report on NBT Bancorp

About NBT Bancorp

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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 commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; and residential real estate loans.

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Insider Buying and Selling by Quarter for NBT Bancorp (NASDAQ:NBTB)

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