Mason Street Advisors LLC Acquires 716 Shares of NBT Bancorp Inc. (NBTB)
Mason Street Advisors LLC increased its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 7.6% during the first quarter, Holdings Channel reports. The fund owned 10,147 shares of the bank’s stock after buying an additional 716 shares during the period. Mason Street Advisors LLC’s holdings in NBT Bancorp were worth $376,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in NBT Bancorp by 26.0% in the first quarter. Bank of Montreal Can now owns 2,931 shares of the bank’s stock valued at $109,000 after buying an additional 604 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in NBT Bancorp during the first quarter valued at approximately $136,000. State of Alaska Department of Revenue boosted its position in NBT Bancorp by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 4,790 shares of the bank’s stock valued at $177,000 after buying an additional 130 shares during the last quarter. Russell Investments Group Ltd. bought a new position in NBT Bancorp during the fourth quarter valued at approximately $239,000. Finally, Trexquant Investment LP bought a new position in NBT Bancorp during the first quarter valued at approximately $218,000. 50.31% of the stock is currently owned by hedge funds and other institutional investors.
NBT Bancorp Inc. (NBTB) opened at 37.33 on Tuesday. The firm’s 50-day moving average is $37.22 and its 200 day moving average is $39.22. The firm has a market cap of $1.62 billion, a PE ratio of 20.40 and a beta of 0.92. NBT Bancorp Inc. has a 1-year low of $26.67 and a 1-year high of $42.56.
NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, April 24th. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. NBT Bancorp had a return on equity of 8.75% and a net margin of 19.58%. The company had revenue of $97.20 million for the quarter, compared to analysts’ expectations of $97.54 million. During the same quarter in the prior year, the business posted $0.43 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. On average, equities analysts forecast that NBT Bancorp Inc. will post $1.94 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Tuesday, May 30th. NBT Bancorp’s dividend payout ratio is currently 50.27%.
Several equities analysts have commented on the stock. Zacks Investment Research cut shares of NBT Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Finally, Piper Jaffray Companies raised shares of NBT Bancorp from an “underweight” rating to a “neutral” rating and set a $35.50 target price on the stock in a research note on Thursday, June 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $34.75.
In related news, Director John C. Mitchell sold 1,570 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $36.27, for a total value of $56,943.90. Following the sale, the director now owns 34,219 shares in the company, valued at approximately $1,241,123.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John C. Mitchell sold 1,438 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $35.48, for a total value of $51,020.24. Following the completion of the sale, the director now owns 32,781 shares in the company, valued at approximately $1,163,069.88. The disclosure for this sale can be found here. Corporate insiders own 2.83% of the company’s stock.
NBT Bancorp Company Profile
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing 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.
Want to see what other hedge funds are holding NBTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NBT Bancorp Inc. (NASDAQ:NBTB).
Receive News & Ratings for NBT Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NBT Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.