Heidi M. Hoeller Acquires Shares in NBT Bancorp Inc.

On February 7th, Heidi M. Hoeller, a director at NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report), acquired 678 shares of the company’s stock. The average purchase price for the shares was $48.45 each, totaling $32,849.10. After this transaction, Hoeller now owns 6,437 shares in NBT Bancorp, which are valued at approximately $311,872.65. This acquisition marks an 11.77% increase in her holdings. The details of this trade were made available in a formal filing with the Securities and Exchange Commission.

NBT Bancorp Stock Performance

During the midday trading session on Friday, NBTB shares fell by $0.35, settling at $48.67. The trading volume reached 112,316 shares, significantly less than the average volume of 202,869 shares. NBT Bancorp has a market capitalization of $2.30 billion, a P/E ratio of 16.44, and a beta of 0.52. Currently, the 50-day moving average price is at $48.49 while the 200-day moving average stands at $47.12. The company’s debt-to-equity ratio is 0.17, with both current and quick ratios at 0.87. Over the past year, NBT Bancorp’s stock experienced a low of $32.79 and a high of $52.44.

Earnings Results Overview

NBT Bancorp last reported its earnings on January 27th, revealing earnings of $0.77 per share, just shy of the consensus estimate of $0.78. The bank achieved a net margin of 17.84% and a return on equity of 9.39%. In the same quarter a year prior, the company posted earnings of $0.72 per share. Analysts anticipate that NBT Bancorp Inc. will report earnings of approximately $3.69 per share by the end of the current fiscal year.

Dividend Announcement

The company has also announced a quarterly dividend to be paid on March 17th. Shareholders on record as of March 3rd will receive a $0.34 dividend, translating to an annualized dividend of $1.36 and a yield of 2.79%. The ex-dividend date is anticipated to be March 3rd, and the current dividend payout ratio for NBT Bancorp is 45.95%.

Recent Analyst Reviews

NBT Bancorp has been under review by several analysts recently. Keefe, Bruyette & Woods elevated their price target for the stock from $50.00 to $55.00 while assigning a "market perform" rating. DA Davidson initiated coverage with a "neutral" rating and a price target of $60.00. Additionally, Stephens upgraded the stock from an "equal weight" rating to "overweight" with a price target of $53.00. StockNews.com, on the other hand, downgraded the stock from a "hold" rating to a "sell" rating. Presently, the stock holds an average rating of "Moderate Buy" from analysts, with a mean price target of $51.75.

Institutional Investment Activity

Several institutional investors have recently adjusted their holdings in NBT Bancorp. AQR Capital Management LLC initiated a stake in the company worth roughly $214,000. GAMMA Investing LLC increased its stake by 47.9% during the third quarter, acquiring a total of 778 shares valued at $34,000. Other notable increases include Inspire Investing LLC and Raymond James & Associates, which expanded their positions significantly. Hedge funds and institutional investors collectively own approximately 58.46% of NBT Bancorp stock.

Company Overview

NBT Bancorp Inc. is a financial holding company that offers a variety of financial services including commercial banking, retail banking, and wealth management. Its range of deposit products comprises demand deposits, savings accounts, and certificates of deposit. The company’s lending services span various types of loans such as consumer, home equity, business, commercial, and industrial loans.

Director, Shares, Investment