MGO One Seven LLC Buys New Holdings in NBT Bancorp Inc. $NBTB

MGO One Seven LLC bought a new position in NBT Bancorp Inc. (NASDAQ:NBTB) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 55,000 shares of the bank’s stock, valued at approximately $2,297,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PL Capital Advisors LLC acquired a new position in shares of NBT Bancorp in the 2nd quarter valued at $16,326,000. State Street Corp increased its stake in NBT Bancorp by 7.8% in the second quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after acquiring an additional 182,793 shares during the period. The Manufacturers Life Insurance Company raised its position in NBT Bancorp by 63.2% in the second quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock worth $18,741,000 after purchasing an additional 174,639 shares in the last quarter. Edgestream Partners L.P. bought a new position in NBT Bancorp during the second quarter worth about $6,286,000. Finally, Geode Capital Management LLC boosted its holdings in NBT Bancorp by 10.8% during the second quarter. Geode Capital Management LLC now owns 1,298,769 shares of the bank’s stock valued at $53,971,000 after purchasing an additional 126,718 shares in the last quarter. Institutional investors own 58.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NBTB shares. Piper Sandler set a $47.00 target price on NBT Bancorp and gave the stock an “overweight” rating in a report on Tuesday, October 14th. DA Davidson cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of NBT Bancorp in a research note on Monday, December 29th. Finally, Janney Montgomery Scott raised shares of NBT Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.25.

Insider Buying and Selling at NBT Bancorp

In related news, Director Timothy E. Delaney acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average price of $40.98 per share, for a total transaction of $409,800.00. Following the transaction, the director directly owned 51,885 shares of the company’s stock, valued at approximately $2,126,247.30. This trade represents a 23.87% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.03% of the stock is currently owned by corporate insiders.

NBT Bancorp Price Performance

Shares of NBTB stock opened at $42.71 on Thursday. The stock’s fifty day moving average is $42.18 and its 200-day moving average is $42.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $2.23 billion, a PE ratio of 14.24 and a beta of 0.50. NBT Bancorp Inc. has a 52 week low of $37.31 and a 52 week high of $49.18.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 27th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.08. NBT Bancorp had a return on equity of 10.35% and a net margin of 17.24%.The business had revenue of $186.07 million during the quarter, compared to analysts’ expectations of $183.87 million. Equities research analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, December 1st. NBT Bancorp’s dividend payout ratio is 49.33%.

NBT Bancorp Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.