NBT Bancorp Inc. (NASDAQ:NBTB) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $37.96 and traded as high as $40.41. NBT Bancorp shares last traded at $40.30, with a volume of 5,983 shares changing hands.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. BidaskClub upgraded shares of NBT Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 17th.
The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $40.40 and its two-hundred day moving average is $37.98. The company has a market cap of $1.76 billion, a PE ratio of 15.72 and a beta of 0.86.
The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Wednesday, November 27th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.26. NBT Bancorp’s dividend payout ratio (DPR) is currently 42.19%.
In related news, Director Lowell A. Seifter sold 4,131 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $39.46, for a total transaction of $163,009.26. Following the sale, the director now owns 43,014 shares in the company, valued at $1,697,332.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.29% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in NBT Bancorp by 6.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 96,420 shares of the bank’s stock worth $3,542,000 after acquiring an additional 5,870 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of NBT Bancorp by 27.5% in the second quarter. Russell Investments Group Ltd. now owns 12,829 shares of the bank’s stock valued at $480,000 after buying an additional 2,770 shares during the last quarter. Bank of Montreal Can lifted its position in shares of NBT Bancorp by 104.3% in the second quarter. Bank of Montreal Can now owns 6,921 shares of the bank’s stock valued at $259,000 after buying an additional 3,533 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of NBT Bancorp by 0.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 330,802 shares of the bank’s stock valued at $12,409,000 after buying an additional 2,336 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of NBT Bancorp by 1.7% in the second quarter. Northern Trust Corp now owns 1,097,925 shares of the bank’s stock valued at $41,183,000 after buying an additional 18,382 shares during the last quarter. Institutional investors own 55.25% of the company’s stock.
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.
Further Reading: Initial Coin Offering (ICO)
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