NBT Bancorp (NASDAQ:NBTB) Sets New 52-Week Low at $26.29

NBT Bancorp Inc. (NASDAQ:NBTB) reached a new 52-week low during trading on Thursday . The company traded as low as $26.29 and last traded at $26.73, with a volume of 184568 shares. The stock had previously closed at $26.82.

A number of equities analysts have weighed in on the stock. Piper Sandler dropped their price target on shares of NBT Bancorp from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday. Zacks Investment Research upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 21st. ValuEngine downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Finally, BidaskClub lowered NBT Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, August 21st. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $36.00.

The company has a market capitalization of $1.17 billion, a P/E ratio of 12.30 and a beta of 0.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 0.90. The business’s fifty day simple moving average is $29.84 and its 200-day simple moving average is $30.57.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, July 27th. The bank reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.13. The firm had revenue of $115.46 million during the quarter, compared to analyst estimates of $112.55 million. NBT Bancorp had a return on equity of 8.62% and a net margin of 19.05%. As a group, analysts forecast that NBT Bancorp Inc. will post 1.93 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Monday, August 31st. NBT Bancorp’s payout ratio is 39.42%.

In other NBT Bancorp news, Director Joseph A. Santangelo bought 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were purchased at an average cost of $31.15 per share, for a total transaction of $93,450.00. Following the transaction, the director now owns 19,750 shares of the company’s stock, valued at $615,212.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director V Daniel Robinson II sold 10,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $32.02, for a total transaction of $320,200.00. Following the sale, the director now owns 13,582 shares in the company, valued at $434,895.64. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock worth $1,257,400 over the last ninety days. Insiders own 3.29% of the company’s stock.

Several large investors have recently bought and sold shares of NBTB. State Street Corp increased its position in shares of NBT Bancorp by 6.8% during the 1st quarter. State Street Corp now owns 1,436,808 shares of the bank’s stock valued at $46,538,000 after purchasing an additional 91,757 shares during the last quarter. Geode Capital Management LLC increased its position in NBT Bancorp by 7.6% during the first quarter. Geode Capital Management LLC now owns 650,065 shares of the bank’s stock valued at $21,055,000 after acquiring an additional 46,186 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of NBT Bancorp by 0.8% in the 1st quarter. Invesco Ltd. now owns 588,093 shares of the bank’s stock worth $19,049,000 after acquiring an additional 4,713 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of NBT Bancorp by 5.6% during the 1st quarter. Nuveen Asset Management LLC now owns 288,447 shares of the bank’s stock worth $9,343,000 after purchasing an additional 15,281 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of NBT Bancorp by 0.8% during the 1st quarter. Legal & General Group Plc now owns 127,255 shares of the bank’s stock worth $4,122,000 after purchasing an additional 978 shares during the period. 55.18% of the stock is owned by institutional investors and hedge funds.

About NBT Bancorp (NASDAQ:NBTB)

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, direct loans, mortgages, business banking loans, and commercial loans; and residential real estate loans, as well as development loans.

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