Legal & General Group Plc Boosts Holdings in NBT Bancorp Inc. (NBTB)
Legal & General Group Plc raised its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 13.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,644 shares of the bank’s stock after purchasing an additional 9,950 shares during the quarter. Legal & General Group Plc owned 0.20% of NBT Bancorp worth $3,202,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can raised its position in NBT Bancorp by 26.0% in the first quarter. Bank of Montreal Can now owns 2,931 shares of the bank’s stock valued at $109,000 after purchasing an additional 604 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in NBT Bancorp in the first quarter valued at about $136,000. National Planning Corp bought a new position in NBT Bancorp in the second quarter valued at about $219,000. Trexquant Investment LP bought a new position in NBT Bancorp in the first quarter valued at about $218,000. Finally, Miles Capital Inc. raised its position in NBT Bancorp by 0.3% in the first quarter. Miles Capital Inc. now owns 6,953 shares of the bank’s stock valued at $258,000 after purchasing an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 49.20% of the company’s stock.
Several research firms have commented on NBTB. Piper Jaffray Companies upgraded NBT Bancorp from an “underweight” rating to a “neutral” rating and set a $35.50 target price for the company in a research report on Thursday, June 8th. ValuEngine upgraded NBT Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. BidaskClub downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.50 target price on shares of NBT Bancorp in a research report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded NBT Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Saturday, June 3rd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. NBT Bancorp presently has an average rating of “Hold” and a consensus target price of $36.00.
Shares of NBT Bancorp Inc. (NASDAQ:NBTB) opened at 34.22 on Friday. The firm has a market cap of $1.49 billion, a PE ratio of 18.40 and a beta of 0.90. NBT Bancorp Inc. has a 52 week low of $31.28 and a 52 week high of $42.56. The stock has a 50 day moving average price of $33.79 and a 200 day moving average price of $36.59.
NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, July 24th. The bank reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. NBT Bancorp had a return on equity of 8.81% and a net margin of 19.68%. The company had revenue of $99.93 million during the quarter, compared to analyst estimates of $100.91 million. During the same quarter in the previous year, the company posted $0.46 EPS. Equities analysts expect that NBT Bancorp Inc. will post $1.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Wednesday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is presently 49.46%.
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About NBT Bancorp
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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