NBT Bancorp (NASDAQ:NBTB) Sets New 1-Year Low at $33.53

NBT Bancorp Inc. (NASDAQ:NBTBGet Rating)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $33.53 and last traded at $35.16, with a volume of 50048 shares changing hands. The stock had previously closed at $37.09.

Wall Street Analyst Weigh In

NBTB has been the topic of a number of recent analyst reports. Stephens lowered their price target on shares of NBT Bancorp from $47.00 to $42.00 in a research note on Thursday, January 26th. StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, March 10th. Finally, Raymond James started coverage on shares of NBT Bancorp in a research report on Wednesday, December 21st. They set a “strong-buy” rating and a $49.00 price target for the company.

NBT Bancorp Price Performance

The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $40.41 and a two-hundred day simple moving average of $41.88. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 10.05 and a beta of 0.56.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Tuesday, February 28th. NBT Bancorp’s payout ratio is currently 34.09%.

Insider Activity

In other NBT Bancorp news, CFO Scott Allen Kingsley acquired 2,310 shares of the company’s stock in a transaction dated Tuesday, March 7th. The stock was acquired at an average cost of $38.50 per share, with a total value of $88,935.00. Following the purchase, the chief financial officer now directly owns 21,796 shares in the company, valued at approximately $839,146. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NBTB. Lazard Asset Management LLC purchased a new stake in shares of NBT Bancorp during the first quarter worth about $27,000. MinichMacGregor Wealth Management LLC acquired a new position in NBT Bancorp in the 4th quarter valued at $50,000. Picton Mahoney Asset Management acquired a new position in NBT Bancorp in the 4th quarter valued at $66,000. Captrust Financial Advisors lifted its stake in shares of NBT Bancorp by 198.9% during the 1st quarter. Captrust Financial Advisors now owns 2,173 shares of the bank’s stock worth $79,000 after purchasing an additional 1,446 shares during the period. Finally, Belpointe Asset Management LLC acquired a new stake in shares of NBT Bancorp during the fourth quarter worth $91,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

About NBT Bancorp

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NBT Bancorp, Inc is a holding company, which engages in the provision of financial solutions. It offers commercial banking, retail banking, and wealth management, as well as trust and investment services. The company was founded in 1986 and is headquartered in Norwich, NY.

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