Ieq Capital LLC Makes New $629,000 Investment in NBT Bancorp Inc. $NBTB

Ieq Capital LLC bought a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,730 shares of the bank’s stock, valued at approximately $629,000.

Other hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC lifted its stake in shares of NBT Bancorp by 4.2% during the 1st quarter. Private Advisor Group LLC now owns 5,809 shares of the bank’s stock worth $247,000 after acquiring an additional 233 shares during the last quarter. Ascent Wealth Partners LLC boosted its stake in shares of NBT Bancorp by 6.1% during the first quarter. Ascent Wealth Partners LLC now owns 5,353 shares of the bank’s stock valued at $228,000 after purchasing an additional 309 shares during the period. Inspire Investing LLC grew its holdings in shares of NBT Bancorp by 2.9% in the fourth quarter. Inspire Investing LLC now owns 11,257 shares of the bank’s stock worth $467,000 after purchasing an additional 315 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of NBT Bancorp by 63.8% in the first quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after purchasing an additional 324 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in NBT Bancorp by 62.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock worth $43,000 after buying an additional 399 shares during the period. Institutional investors own 58.46% of the company’s stock.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, EVP Ruth H. Mahoney sold 5,000 shares of the company’s 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 completion of the sale, the executive vice president owned 16,428 shares in the company, valued at $765,544.80. This represents a 23.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Heidi M. Hoeller sold 2,100 shares of the 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 directly owned 11,560 shares in the company, valued at $555,226.80. This trade represents a 15.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,600 shares of company stock valued at $1,064,573 over the last ninety days. 2.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NBTB shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $54.00 price objective (up from $52.00) on shares of NBT Bancorp in a report on Monday, August 3rd. Piper Sandler upped 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. DA Davidson lifted their price target on shares of NBT Bancorp from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen lowered NBT Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Stephens cut NBT Bancorp from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $52.00 to $55.00 in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, NBT Bancorp presently has an average rating of “Hold” and a consensus price target of $54.10.

NBT Bancorp Stock Up 0.2%

NASDAQ:NBTB opened at $51.55 on Friday. NBT Bancorp Inc. has a 1-year low of $39.19 and a 1-year high of $54.50. The company has a 50-day moving average of $51.52 and a 200 day moving average of $46.94. The firm has a market cap of $2.68 billion, a PE ratio of 12.60 and a beta of 0.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, July 27th. The bank reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). NBT Bancorp had a net margin of 22.58% and a return on equity of 11.27%. The business had revenue of $186.69 million for the quarter, compared to analysts’ expectations of $188.81 million. As a group, research analysts anticipate that NBT Bancorp Inc. will post 4.15 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.40 per share. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 1st. NBT Bancorp’s payout ratio is 36.19%.

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.