NBT Bancorp Director Heidi M. Hoeller Acquires Additional Shares

NBT Bancorp Inc. (NASDAQ:NBTB) announced that its director, Heidi M. Hoeller, has acquired 678 shares of the company's stock. This transaction took place on Friday, February 7th, and the shares were purchased at an average price of $48.45 each. The total investment for this purchase amounted to $32,849.10.

As a result of this acquisition, Hoeller now holds a total of 6,437 shares in NBT Bancorp, with an estimated value of around $311,872.65. This recent transaction signifies an 11.77% increase in her ownership position in the company. The details of the transaction were made public through a filing with the Securities and Exchange Commission (SEC), which interested individuals can review for more information.

NBT Bancorp Stock Overview

On the day of the transaction, NBT Bancorp's stock opened at $48.55. The company's market capitalization stands at approximately $2.29 billion. NBT Bancorp’s price-to-earnings (P/E) ratio is reported at 16.40, along with a beta of 0.52, indicating its relative volatility in comparison to the market.

The bank's financial indicators show a quick ratio of 0.87, a current ratio also at 0.87, and a debt-to-equity ratio of 0.17. Over recent months, NBT Bancorp's stock has experienced a 50-day moving average of $48.49 and a 200-day moving average of $47.12. The stock has seen a 12-month low of $32.79 and a 12-month high of $52.44.

Recent Earnings Report

NBT Bancorp recently published its earnings results for the quarter ending January 27th. The bank reported earnings per share (EPS) of $0.77, falling slightly short of analysts' expectations of $0.78 by $0.01. The financial institution had a net margin of 17.84% and a return on equity of 9.39%. In comparison, the previous year's same quarter earnings stood at $0.72 EPS. Analysts project that NBT Bancorp will achieve earnings of $3.69 per share for the current fiscal year.

Dividend Announcement

In addition, NBT Bancorp has announced a forthcoming quarterly dividend, to be paid on Monday, March 17th. Shareholders who are on record by Monday, March 3rd, will receive a dividend of $0.34 per share. The ex-dividend date is also set for March 3rd. This dividend represents an annualized payout of $1.36 and translates to a yield of 2.80%. The company has a dividend payout ratio of 45.95%.

Market Analyst Insights

Equity research analysts have shared mixed views about NBT Bancorp. DA Davidson initiated coverage on the stock, providing a "neutral" rating with a $60.00 target price. Meanwhile, in a recent report from Stephens, they upgraded NBT Bancorp from an "equal weight" rating to an "overweight" rating, setting a price objective of $53.00. Keefe, Bruyette & Woods also raised their target for the stock from $50.00 to $55.00, maintaining a "market perform" rating. However, StockNews.com lowered their rating from "hold" to "sell" in a note dated January 16th. Currently, analysts’ ratings for the stock include one sell, two holds, two buys, and one strong buy, with an average rating classified as "Moderate Buy" and a consensus target price of $51.75.

Institutional Investments

Recent trends among hedge funds indicate varying adjustments in their stakes of NBT Bancorp. For example, GAMMA Investing LLC increased its holdings by 47.9% during the third quarter, acquiring 778 shares worth about $34,000 after an additional purchase of 252 shares. Additionally, US Bancorp DE and Quest Partners LLC both purchased new stakes in the stock, valuing approximately $57,000 each. Crews Bank & Trust and Rialto Wealth Management also made new investments in the bank during the fourth quarter. Collectively, institutional investors now own approximately 58.46% of NBT Bancorp's shares.

About NBT Bancorp

NBT Bancorp Inc. operates as a financial holding company, offering a wide range of banking services including commercial banking, retail banking, and wealth management. Their deposit products include various account types, such as demand deposit accounts, savings accounts, and certificates of deposit. The company's loan portfolio encompasses consumer loans, home equity loans, commercial and industrial loans, as well as residential real estate loans.

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