NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by NBT Bank N A NY

NBT Bank N A NY cut its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 271,458 shares of the bank’s stock after selling 5,613 shares during the quarter. NBT Bancorp makes up approximately 0.9% of NBT Bank N A NY’s portfolio, making the stock its 24th biggest position. NBT Bank N A NY owned 0.58% of NBT Bancorp worth $12,965,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NBTB. Raymond James Financial Inc. acquired a new position in shares of NBT Bancorp during the fourth quarter worth about $23,651,000. Assenagon Asset Management S.A. acquired a new position in NBT Bancorp in the fourth quarter valued at approximately $12,007,000. Eagle Asset Management Inc. boosted its holdings in NBT Bancorp by 76.3% in the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after purchasing an additional 163,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in NBT Bancorp by 55.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock valued at $9,946,000 after purchasing an additional 80,232 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in NBT Bancorp by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock valued at $32,632,000 after purchasing an additional 75,693 shares in the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on NBTB. DA Davidson began coverage on NBT Bancorp in a report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target for the company. Stephens raised NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Wednesday, January 29th. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their price target on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

NBT Bancorp Price Performance

NBTB stock opened at $44.34 on Monday. The company has a market capitalization of $2.10 billion, a P/E ratio of 14.98 and a beta of 0.48. NBT Bancorp Inc. has a twelve month low of $32.79 and a twelve month high of $52.44. The business has a 50 day simple moving average of $47.33 and a 200-day simple moving average of $47.24. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same period last year, the company earned $0.72 earnings per share. As a group, equities analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Monday, March 3rd. NBT Bancorp’s dividend payout ratio (DPR) is presently 45.95%.

Insider Transactions at NBT Bancorp

In other news, EVP Sarah A. Halliday sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $48.45, for a total transaction of $242,250.00. Following the completion of the sale, the executive vice president now owns 25,564 shares in the company, valued at $1,238,575.80. This represents a 16.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Amy Wiles sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the sale, the executive vice president now owns 27,409 shares of the company’s stock, valued at $1,406,355.79. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,694 shares of company stock worth $277,935 over the last 90 days. 3.32% of the stock is currently owned by insiders.

About NBT Bancorp

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.