Dimensional Fund Advisors LP Has $81.98 Million Position in NBT Bancorp Inc. (NBTB)
Dimensional Fund Advisors LP lifted its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 2.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,148,956 shares of the bank’s stock after buying an additional 44,075 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.93% of NBT Bancorp worth $81,983,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NBTB. W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in shares of NBT Bancorp during the 1st quarter valued at $113,000. Berkshire Asset Management LLC PA bought a new stake in NBT Bancorp in the 2nd quarter valued at $202,000. LPL Financial LLC bought a new stake in NBT Bancorp in the 1st quarter valued at $256,000. KBC Group NV bought a new stake in NBT Bancorp in the 2nd quarter valued at $286,000. Finally, QCI Asset Management Inc. NY increased its holdings in NBT Bancorp by 26.6% in the 2nd quarter. QCI Asset Management Inc. NY now owns 7,820 shares of the bank’s stock valued at $298,000 after acquiring an additional 1,643 shares during the last quarter. Institutional investors own 52.28% of the company’s stock.
In other news, EVP Joseph R. Stagliano sold 5,500 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $41.45, for a total value of $227,975.00. Following the sale, the executive vice president now directly owns 59,737 shares in the company, valued at approximately $2,476,098.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sarah A. Halliday bought 850 shares of NBT Bancorp stock in a transaction dated Friday, August 10th. The stock was acquired at an average price of $39.18 per share, for a total transaction of $33,303.00. Following the completion of the acquisition, the executive vice president now owns 5,712 shares in the company, valued at $223,796.16. The disclosure for this purchase can be found here. Insiders own 3.23% of the company’s stock.
NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, July 23rd. The bank reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $109.90 million for the quarter, compared to the consensus estimate of $108.45 million. NBT Bancorp had a net margin of 20.92% and a return on equity of 10.30%. NBT Bancorp’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. equities analysts forecast that NBT Bancorp Inc. will post 2.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.50%. NBT Bancorp’s dividend payout ratio (DPR) is presently 50.76%.
NBTB has been the topic of a number of research reports. BidaskClub upgraded shares of NBT Bancorp from a “hold” rating to a “buy” rating in a report on Friday, August 24th. Zacks Investment Research downgraded shares of NBT Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of NBT Bancorp in a report on Wednesday, July 25th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $40.13.
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 commercial, commercial real estate, agricultural, agricultural real estate, and business banking loans; consumer loans, such as indirect, home equity, and direct loans; and residential real estate mortgages, as well as real estate construction and development loans.
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