Amy Wiles, govt vp and chief danger and credit score officer at NBT Bancorp Inc. . (NASDAQ:), a regional financial institution with a market cap of $2.4 billion, just lately accomplished a inventory sale. Based on a latest SEC submitting, Wiles offered 500 shares of NBT Bancorp frequent inventory on December 13, 2024, at a mean worth of $51.3102 per share, for a complete of roughly $25,655. The transaction comes because the inventory trades close to its 52-week excessive of $52.30, having generated a powerful 48% return over the previous six months. InvestPro The evaluation signifies that the inventory is presently pretty valued, with further info obtainable in Professional Analysis’s full report. Following this transaction, Wiles owns 27,409 shares of the corporate’s inventory. The sale was carried out beneath his direct possession. NBT Bancorp has maintained dividend funds for 39 consecutive years, with 12 consecutive years of dividend will increase, demonstrating sturdy shareholder engagement.
Individually, NBT Bancorp reported sturdy monetary progress within the third quarter of 2024, with internet revenue of $38.1 million, a major improve from the earlier quarter. The corporate additionally introduced plans to merge with Evans Bancorp (NYSE:), a transfer that’s anticipated to increase its market presence in Buffalo and Rochester. In reference to this merger, NBT Bancorp and Evans Bancorp have supplemented proxy supplies to deal with considerations raised by purported Evans shareholders, asserting that the prevailing info complies with authorized necessities.
DA Davidson initiated protection on shares of NBT Bancorp with a Impartial ranking and a $60.00 worth goal, highlighting the corporate’s sturdy price earnings and low-risk credit score tradition. The corporate additionally highlighted that NBT Bancorp is poised to learn from regional manufacturing progress in Upstate New York, which is anticipated to speed up as a consequence of internalization traits and the CHIPS Act.
When it comes to monetary highlights, NBT Bancorp noticed a rise in internet earnings of $5.4 million, a file tangible e-book worth per share of $23.83 and vital progress in business and residential loans, which resulted in a rise in complete loans of $256 million. The corporate declared a quarterly money dividend of $0.34, up 6.3% yr over yr, and introduced its participation in supporting Micron Expertise’s upcoming $100 billion venture ( NASDAQ 🙂 in Clay, New York. These latest developments mark a interval of strong progress and strategic modifications for NBT Bancorp.
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