Chemung Canal Trust Co. Holds Stake in NBT Bancorp Inc. (NBTB)
Chemung Canal Trust Co. maintained its position in NBT Bancorp Inc. (NASDAQ:NBTB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,646 shares of the company’s stock at the end of the second quarter. Chemung Canal Trust Co.’s holdings in NBT Bancorp were worth $219,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. Community Bank N.A. raised its position in NBT Bancorp by 0.3% in the second quarter. Community Bank N.A. now owns 63,215 shares of the company’s stock worth $1,810,000 after buying an additional 170 shares during the period. Capstone Asset Management Co. raised its position in shares of NBT Bancorp by 3.1% in the second quarter. Capstone Asset Management Co. now owns 11,306 shares of the company’s stock valued at $324,000 after buying an additional 340 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of NBT Bancorp by 3.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 14,416 shares of the company’s stock valued at $389,000 after buying an additional 475 shares during the last quarter. BlackRock Group LTD raised its position in shares of NBT Bancorp by 3.8% in the first quarter. BlackRock Group LTD now owns 68,224 shares of the company’s stock valued at $1,839,000 after buying an additional 2,517 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of NBT Bancorp during the second quarter valued at about $137,000. Hedge funds and other institutional investors own 46.00% of the company’s stock.
Shares of NBT Bancorp Inc. (NASDAQ:NBTB) traded down 0.66% on Monday, reaching $32.96. The company’s stock had a trading volume of 22,201 shares. NBT Bancorp Inc. has a 12 month low of $23.81 and a 12 month high of $33.94. The stock has a 50 day moving average of $32.59 and a 200-day moving average of $29.75. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 18.62 and a beta of 0.91.
NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, July 25th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. The firm had revenue of $95.39 million for the quarter. NBT Bancorp had a return on equity of 8.79% and a net margin of 19.38%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. On average, analysts anticipate that NBT Bancorp Inc. will post $1.80 EPS for the current year.
A number of equities research analysts recently weighed in on NBTB shares. Zacks Investment Research upgraded NBT Bancorp from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Friday, July 29th. Keefe, Bruyette & Woods boosted their price objective on NBT Bancorp from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Friday, July 29th.
In related news, CEO Martin A. Dietrich sold 25,000 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $29.78, for a total value of $744,500.00. Following the sale, the chief executive officer now owns 187,815 shares in the company, valued at $5,593,130.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey M. Levy sold 31,000 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $29.83, for a total value of $924,730.00. Following the completion of the sale, the executive vice president now owns 57,139 shares in the company, valued at approximately $1,704,456.37. The disclosure for this sale can be found here. 2.83% of the stock is owned by corporate insiders.
About NBT Bancorp
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and other subsidiaries, which provide commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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