John H. Watt, Jr. Sells 10,000 Shares of NBT Bancorp Inc. (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) Director John H. Watt, Jr. sold 10,000 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $49.40, for a total transaction of $494,000.00. Following the transaction, the director now directly owns 125,301 shares in the company, valued at $6,189,869.40. The trade was a 7.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

NBT Bancorp Price Performance

NBTB stock traded down $0.33 during trading on Monday, hitting $48.93. The stock had a trading volume of 127,093 shares, compared to its average volume of 205,621. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 17.35 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. The company's 50 day moving average price is $45.35 and its two-hundred day moving average price is $42.78. NBT Bancorp Inc. has a 1-year low of $32.79 and a 1-year high of $51.93.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The business had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same quarter in the prior year, the firm posted $0.84 earnings per share. On average, sell-side analysts forecast that NBT Bancorp Inc. will post 2.91 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp's dividend payout ratio is currently 47.89%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On NBT Bancorp

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of NBT Bancorp in the 1st quarter worth $178,000. Russell Investments Group Ltd. lifted its position in NBT Bancorp by 978.7% during the first quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank's stock valued at $3,318,000 after buying an additional 82,071 shares in the last quarter. ProShare Advisors LLC grew its stake in NBT Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 9,268 shares of the bank's stock worth $340,000 after buying an additional 635 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of NBT Bancorp by 150.2% in 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 in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of NBT Bancorp by 8.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 46,791 shares of the bank's stock valued at $1,715,000 after acquiring an additional 3,661 shares during the period. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

NBT Bancorp Company Profile

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.