Amy Wiles, Executive Vice President and Chief Risk and Credit Officer at NBT Bancorp Inc . (NASDAQ: ), a $2.4 billion market cap regional bank, recently held a stock sale. According to a recent SEC filing, Wiles sold 500 shares of NBT Bancorp common stock on Dec. 13, 2024, at an average price of $51.3102 per share, for a total of approximately $25,655. The transaction comes as the stock trades near its 52-week high of $52.30, delivering an impressive 48% return over the past six months. Investment Prof The analysis indicates that the stock is overvalued, with additional insights available in the current Pro Research report. After this transaction, Wiles holds 27,409 shares in the company. The sale was made under his direct ownership. NBT Bancorp has maintained dividend payments for 39 consecutive years, with 12 consecutive years of dividend increases, demonstrating strong shareholder commitment.

In other recent news, NBT Bancorp reported strong financial growth in its Q3 2024 net income of $38.1 million, a significant increase from the previous quarter. The company also announced plans to merge with Evans Bancorp (NYSE: ), a move expected to expand its market presence in Buffalo and Rochester. In connection with this merger, NBT Bancorp and Evans Bancorp have furnished proxy materials to address concerns raised by purported Evans shareholders, maintaining that the existing disclosures comply with legal requirements.

DA Davidson initiated coverage on NBT Bancorp shares with a neutral rating and a $60.00 price target, highlighting the company's strong fee income and low-risk credit culture. The firm also pointed out that NBT Bancorp is poised to benefit from regional manufacturing growth in upstate New York, which is expected to gain momentum due to in-sourcing trends and the CHIPS Act.

In terms of financial highlights, NBT Bancorp saw a $5.4 million increase in net income, a record high tangible book value of $23.83 per share, and significant growth in commercial and residential lending resulting in $256 million in total loans. The company declared a quarterly cash dividend of $0.34, up 6.3% year-over-year, and announced its involvement in backing Micron Technology's (NASDAQ: ) upcoming $100 billion project in Clay, NY. This recent development marks a period of solid growth and strategic moves for NBT Bancorp.

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