NBT Bank N A NY Increases Stake in NBT Bancorp Inc. $NBTB

NBT Bank N A NY lifted its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 260,470 shares of the bank’s stock after purchasing an additional 13,082 shares during the period. NBT Bank N A NY owned about 0.50% of NBT Bancorp worth $11,091,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in NBTB. EverSource Wealth Advisors LLC grew its stake in shares of NBT Bancorp by 1,645.9% during the second quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after buying an additional 609 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after acquiring an additional 799 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in NBT Bancorp by 62.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock valued at $43,000 after acquiring an additional 399 shares during the period. Allworth Financial LP purchased a new stake in NBT Bancorp during the 3rd quarter valued at about $46,000. Finally, Quadrant Capital Group LLC bought a new position in NBT Bancorp during the 4th quarter worth approximately $64,000. 58.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Ruth H. Mahoney sold 5,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $46.60, for a total transaction of $233,000.00. Following the transaction, the executive vice president directly owned 16,428 shares of the company’s stock, valued at $765,544.80. This represents a 23.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Heidi M. Hoeller sold 2,100 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $48.03, for a total value of $100,863.00. Following the sale, 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 SEC filing for this sale provides additional information. 2.99% of the stock is currently owned by insiders.

NBT Bancorp Stock Performance

Shares of NBTB opened at $50.08 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average price is $46.37 and its 200-day moving average price is $44.54. NBT Bancorp Inc. has a 52 week low of $39.19 and a 52 week high of $51.09. The stock has a market cap of $2.60 billion, a P/E ratio of 14.27 and a beta of 0.48.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.01). The company had revenue of $184.48 million for the quarter, compared to the consensus estimate of $185.35 million. NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. Equities research analysts anticipate that NBT Bancorp Inc. will post 4.14 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.37 per share. The ex-dividend date was Monday, June 1st. This represents a $1.48 dividend on an annualized basis and a yield of 3.0%. NBT Bancorp’s payout ratio is currently 42.17%.

Wall Street Analyst Weigh In

Several analysts have weighed in on NBTB shares. Weiss Ratings upgraded NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. DA Davidson restated a “buy” rating and issued a $52.00 target price on shares of NBT Bancorp in a report on Monday, April 27th. Hovde Group cut their target price on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a report on Monday, April 27th. Finally, Piper Sandler lifted their target price on shares of NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

About NBT Bancorp

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.