Sarah Halliday Sells 9,000 Shares of NBT Bancorp (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Sarah Halliday sold 9,000 shares of NBT Bancorp stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $54.04, for a total value of $486,360.00. Following the completion of the transaction, the executive vice president owned 22,054 shares of the company’s stock, valued at approximately $1,191,798.16. This trade represents a 28.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

NBT Bancorp Stock Performance

NASDAQ:NBTB opened at $52.65 on Friday. The business’s fifty day moving average is $49.14 and its 200 day moving average is $45.77. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 12.87 and a beta of 0.48. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp Inc. has a 52-week low of $39.19 and a 52-week high of $54.50.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, July 27th. The bank reported $1.01 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.01). The company had revenue of $186.69 million during the quarter, compared to the consensus estimate of $188.81 million. NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%. Research analysts predict that NBT Bancorp Inc. will post 4.15 EPS for the current year.

NBT Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.0%. NBT Bancorp’s payout ratio is currently 36.19%.

Institutional Investors Weigh In On NBT Bancorp

Several hedge funds have recently bought and sold shares of NBTB. EverSource Wealth Advisors LLC grew 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 buying an additional 609 shares in the last quarter. Larson Financial Group LLC raised its position in shares of NBT Bancorp by 13,316.7% during the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after buying an additional 799 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of NBT Bancorp by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after acquiring an additional 324 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of NBT Bancorp during the 1st quarter worth $37,000. Finally, Global Retirement Partners LLC grew its position in NBT Bancorp by 62.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock worth $43,000 after acquiring an additional 399 shares in the last quarter. 58.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NBTB. Weiss Ratings reissued a “buy (b)” rating on shares of NBT Bancorp in a report on Tuesday, July 21st. DA Davidson upped their price target on shares of NBT Bancorp from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler increased their price objective on NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Stephens lowered NBT Bancorp from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $52.00 to $55.00 in a research note on Thursday. Finally, Hovde Group reduced their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research report on Monday, April 27th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $54.12.

Key NBT Bancorp News

Here are the key news stories impacting NBT Bancorp this week:

• Positive Sentiment: NBT Bancorp raised its quarterly dividend to $0.40 per share from $0.37, equating to an annualized payout of $1.60 and an approximately 3.0% yield. The increase reinforces the stock’s appeal to income-oriented investors. NBT Bancorp Hits New 12-Month High After Dividend Announcement
• Positive Sentiment: Analyst sentiment was mixed but included bullish target increases: DA Davidson raised its price objective to $59 and retained a “buy” rating, while Piper Sandler previously lifted its target to $56 with an “overweight” rating. Analysts Have Conflicting Sentiments on NBT Bancorp
• Neutral Sentiment: Institutional ownership changes were mixed. Bank of New York Mellon reduced its stake by 2.2%, while Fifth Third Bancorp substantially increased its holding from a very small base. Because the filings reflect earlier-quarter activity, they provide limited insight into current trading conviction. Bank of New York Mellon Holdings
• Negative Sentiment: Stephens downgraded NBTB from “overweight” to “equal weight.” Although it increased its target to $55 from $52, the rating change suggests the analyst sees limited additional upside after the stock’s recent advance.
• Negative Sentiment: EVPs Sarah Halliday and Ruth Mahoney sold a combined 13,500 shares for approximately $730,710. The transactions reduced their individual holdings by roughly 29% and 27%, respectively, potentially weighing on sentiment even though the sales may reflect personal financial planning. Sarah Halliday SEC Filing Ruth Mahoney SEC Filing
• Negative Sentiment: The bank’s latest quarterly results narrowly missed expectations, with earnings of $1.01 per share versus $1.02 expected and revenue of $186.69 million versus $188.81 million forecast. The modest miss, combined with a consensus “hold” rating and an average target near the current price, supports the view that NBTB may be fully valued. NBT Bancorp Looks Fully Valued

NBT Bancorp Company Profile

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.