John H. Watt Jr., a director at NBT Bancorp Inc . (NASDAQ:), not too long ago offered a good portion of the corporate’s widespread inventory. In response to a submitting with the Securities and Trade Fee, Watt offered 10,000 shares on November 15, 2024, at a mean value of $49.4047 per share, totaling roughly $494,047. This transaction leaves Watt with direct possession of 125,301 shares. Moreover, he holds 6,156.128 shares not directly by a 401(ok) plan.
The sale value for the shares ranged between $49.00 and $49.855, as famous within the submitting. Such transactions by firm insiders, like administrators, are carefully watched by buyers for potential insights into the corporate’s monetary well being and future prospects.
In different latest information, NBT Bancorp reported a powerful third quarter in 2024, with web earnings rising to $38.1 million, up from the earlier quarter. This enhance was accompanied by a progress in complete loans and deposits, with the latter reaching $11.6 billion. The corporate additionally declared a quarterly money dividend of $0.34, marking a 6.3% enhance year-over-year.
NBT Bancorp additionally introduced its merger with Evans Bancorp (NYSE:), which is anticipated to shut within the second quarter of 2025. This merger goals to increase the corporate’s market attain into Buffalo and Rochester, pending regulatory approvals.
Moreover, NBT Bancorp is getting ready to assist Micron Know-how (NASDAQ:)’s upcoming $100 billion undertaking in Clay, NY. Nonetheless, the corporate has noticed a rise in working bills, primarily as a consequence of larger salaries and expertise investments. Regardless of the rise in bills, the corporate’s web curiosity margin improved to three.27%, reflecting larger asset yields. These latest developments point out a interval of progress and enlargement for NBT Bancorp.
InvestingPro Insights
NBT Bancorp Inc. (NASDAQ:NBTB) has proven robust efficiency not too long ago, with InvestingPro information revealing a 30.81% value complete return over the previous six months. This aligns with the latest inventory sale by director John H. Watt Jr., probably indicating a positive market valuation.
The corporate’s monetary well being seems strong, with a market capitalization of $2.34 billion and a P/E ratio of 17.17, suggesting an inexpensive valuation relative to earnings. NBT Bancorp’s dedication to shareholder worth is obvious by its dividend historical past. InvestingPro Suggestions spotlight that the corporate has maintained dividend funds for 39 consecutive years and has raised its dividend for 12 consecutive years. This constant dividend coverage, coupled with a present dividend yield of two.76%, could also be engaging to income-focused buyers.
Income progress can also be noteworthy, with a ten.23% enhance over the past twelve months and a extra spectacular 17.98% progress in the newest quarter. This progress trajectory, mixed with the truth that three analysts have revised their earnings upwards for the upcoming interval, suggests a constructive outlook for NBT Bancorp.
For buyers looking for extra complete evaluation, InvestingPro provides extra insights with 8 extra ideas accessible for NBT Bancorp, offering a deeper understanding of the corporate’s monetary place and market efficiency.
This text was generated with the assist of AI and reviewed by an editor. For extra info see our T&C.
