Crews Bank & Trust Buys New Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Crews Bank & Trust purchased a new position in NBT Bancorp Inc. (NASDAQ:NBTB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,052 shares of the bank’s stock, valued at approximately $98,000.

Several other large investors have also added to or reduced their stakes in NBTB. AQR Capital Management LLC purchased a new stake in shares of NBT Bancorp in the 2nd quarter worth about $214,000. GAMMA Investing LLC lifted its holdings in NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after buying an additional 252 shares during the period. Inspire Investing LLC boosted its position in NBT Bancorp by 3.7% during the 3rd quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock valued at $415,000 after acquiring an additional 331 shares in the last quarter. Raymond James & Associates grew its holdings in shares of NBT Bancorp by 3.9% during the 3rd quarter. Raymond James & Associates now owns 95,062 shares of the bank’s stock worth $4,205,000 after acquiring an additional 3,540 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of NBT Bancorp by 3.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 144,642 shares of the bank’s stock worth $6,398,000 after acquiring an additional 5,235 shares in the last quarter. Institutional investors own 58.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research report on Wednesday. Finally, DA Davidson initiated coverage on shares of NBT Bancorp in a report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NBT Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Insider Activity at NBT Bancorp

In other news, EVP Amy Wiles sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $50.10, for a total value of $50,100.00. Following the transaction, the executive vice president now directly owns 27,909 shares in the company, valued at $1,398,240.90. This trade represents a 3.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the sale, the director now owns 38,853 shares of the company’s stock, valued at approximately $1,999,763.91. This trade represents a 50.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,694 shares of company stock valued at $3,139,185 over the last ninety days. Insiders own 3.32% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NBTB stock opened at $47.63 on Friday. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 16.09 and a beta of 0.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $52.44. The company’s 50-day moving average is $48.68 and its 200 day moving average is $47.05.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results 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 quarter in the prior year, the company posted $0.72 EPS. Sell-side analysts expect that NBT Bancorp Inc. will post 3.46 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Monday, March 3rd. NBT Bancorp’s payout ratio is currently 45.95%.

NBT Bancorp Company Profile

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.