NBT Bancorp Inc. (NBTB) Position Reduced by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. lowered its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 48.8% during the first quarter, Holdings Channel reports. The fund owned 34,896 shares of the bank’s stock after selling 33,254 shares during the period. Goldman Sachs Group Inc.’s holdings in NBT Bancorp were worth $1,294,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in NBT Bancorp by 4.9% in the first quarter. Comerica Bank now owns 48,055 shares of the bank’s stock worth $1,895,000 after buying an additional 2,223 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in NBT Bancorp by 16.2% in the first quarter. BNP Paribas Arbitrage SA now owns 9,360 shares of the bank’s stock worth $347,000 after buying an additional 1,306 shares during the last quarter. Bank of New York Mellon Corp raised its stake in NBT Bancorp by 28.9% in the first quarter. Bank of New York Mellon Corp now owns 796,715 shares of the bank’s stock worth $29,534,000 after buying an additional 178,423 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in NBT Bancorp during the first quarter worth $950,000. Finally, Great West Life Assurance Co. Can raised its stake in NBT Bancorp by 7.4% in the first quarter. Great West Life Assurance Co. Can now owns 61,881 shares of the bank’s stock worth $2,291,000 after buying an additional 4,259 shares during the last quarter. 49.90% of the stock is owned by institutional investors and hedge funds.
Shares of NBT Bancorp Inc. (NASDAQ NBTB) traded down 1.72% on Thursday, reaching $34.24. 24,028 shares of the company’s stock traded hands. NBT Bancorp Inc. has a 52 week low of $29.98 and a 52 week high of $42.56. The firm has a market capitalization of $1.49 billion, a P/E ratio of 18.41 and a beta of 0.88. The company’s 50-day moving average is $36.38 and its 200-day moving average is $38.00.
NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, July 24th. The bank reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. NBT Bancorp had a net margin of 19.68% and a return on equity of 8.81%. The business had revenue of $99.93 million during the quarter, compared to analysts’ expectations of $100.91 million. During the same period in the previous year, the company earned $0.46 earnings per share. Equities research analysts anticipate that NBT Bancorp Inc. will post $1.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, August 30th. NBT Bancorp’s payout ratio is 49.46%.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Thursday, April 27th. BidaskClub raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.50 price target on shares of NBT Bancorp in a report on Tuesday, July 25th. ValuEngine raised shares of NBT Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $35.00 price target on shares of NBT Bancorp in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. NBT Bancorp has an average rating of “Hold” and a consensus price target of $36.75.
In related news, Director John C. Mitchell sold 1,570 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $36.27, for a total transaction of $56,943.90. Following the transaction, the director now owns 34,219 shares of the company’s stock, valued at $1,241,123.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John C. Mitchell sold 1,438 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $35.48, for a total transaction of $51,020.24. Following the transaction, the director now directly owns 32,781 shares in the company, valued at approximately $1,163,069.88. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by insiders.
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.
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