Gold prices edge higher on raised Fed rate cut hopes
Scott Allen, the President and CEO of NBT Bancorp Inc . (NASDAQ:NBTB), recently purchased 2,000 shares of the company’s common stock, according to a recent SEC filing. The $2.09 billion regional bank has maintained dividend payments for 40 consecutive years, with InvestingPro data showing a current dividend yield of 3.05%. The transaction, which took place on March 5, was executed at a price of $44.90 per share, amounting to a total investment of $89,800. Following this purchase, Allen holds a total of 39,308 shares directly. The stock currently trades at a P/E ratio of 14.92, with analyst price targets ranging from $53 to $60. For deeper insights into insider trading patterns and additional InvestingPro Tips, subscribers can access the comprehensive Pro Research Report available for NBTB.
In other recent news, NBT Bancorp reported its fourth-quarter 2024 earnings, meeting analyst expectations with an earnings per share (EPS) of $0.77. The company’s revenue for the quarter was $148.9 million, surpassing the forecasted $146.16 million. NBT Bancorp announced a merger with Evans Bancorp (NYSE:EVBN), which is expected to be completed in the second quarter of 2025, as part of its expansion into Western New York markets. The merger has already received the necessary regulatory approvals, as well as strong support from Evans shareholders. Analyst firm Raymond (NSE:RYMD) James maintained its coverage on NBT Bancorp, reflecting on the company’s performance and strategic initiatives. The company demonstrated a positive trend in its core operations with an improved net interest margin of 3.34%. NBT Bancorp’s CEO, Scott Kingsley, expressed optimism about the company’s market activities and growth opportunities following the Salisbury acquisition. The company is also focusing on geographic expansion and expects mid-single-digit growth in its fee businesses and loan growth around 6%, excluding planned runoff portfolios.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.