NBT Bancorp Inc. $NBTB Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd decreased its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 84.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,830 shares of the bank’s stock after selling 59,786 shares during the period. Y Intercept Hong Kong Ltd’s holdings in NBT Bancorp were worth $461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Tudor Investment Corp ET AL acquired a new position in NBT Bancorp in the third quarter valued at approximately $4,886,000. SG Americas Securities LLC increased its stake in NBT Bancorp by 195.7% during the fourth quarter. SG Americas Securities LLC now owns 71,852 shares of the bank’s stock worth $2,983,000 after acquiring an additional 47,550 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in NBT Bancorp during the first quarter worth $988,000. JPMorgan Chase & Co. raised its position in NBT Bancorp by 26.7% in the third quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock valued at $13,986,000 after purchasing an additional 70,594 shares during the period. Finally, Financial Planning Hawaii Inc. purchased a new stake in NBT Bancorp in the fourth quarter valued at $641,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analyst Ratings Changes

NBTB has been the subject of a number of research analyst reports. Hovde Group lowered their price target on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a report on Monday, April 27th. Piper Sandler boosted their price objective on shares of NBT Bancorp from $50.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, June 26th. DA Davidson reaffirmed a “buy” rating and issued a $52.00 target price on shares of NBT Bancorp in a research report on Monday, April 27th. Finally, Weiss Ratings raised shares of NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.50.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, EVP Ruth H. Mahoney sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $46.60, for a total value of $233,000.00. Following the completion of the transaction, the executive vice president owned 16,428 shares of the company’s stock, valued at $765,544.80. This trade represents a 23.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Heidi M. Hoeller sold 2,100 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $48.03, for a total transaction of $100,863.00. Following the completion of the transaction, the director owned 11,560 shares of the company’s stock, valued at approximately $555,226.80. This trade represents a 15.37% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.99% of the stock is owned by corporate insiders.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $50.64 on Wednesday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 14.43 and a beta of 0.48. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50-day moving average of $47.20 and a 200 day moving average of $44.86. NBT Bancorp Inc. has a 12 month low of $39.19 and a 12 month high of $51.09.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). The business had revenue of $184.48 million for the quarter, compared to analysts’ expectations of $185.35 million. NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%. As a group, sell-side analysts forecast that NBT Bancorp Inc. will post 4.14 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.37 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.9%. NBT Bancorp’s payout ratio is 42.17%.

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.