NBT Bank N A NY Lowers Stock Position in NBT Bancorp Inc. $NBTB

NBT Bank N A NY cut its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 2.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 268,807 shares of the bank’s stock after selling 7,246 shares during the quarter. NBT Bank N A NY’s holdings in NBT Bancorp were worth $11,169,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its stake in shares of NBT Bancorp by 51.3% during the 1st quarter. TD Private Client Wealth LLC now owns 867 shares of the bank’s stock valued at $37,000 after buying an additional 294 shares during the period. Farther Finance Advisors LLC grew its stake in shares of NBT Bancorp by 2,902.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,441 shares of the bank’s stock valued at $60,000 after buying an additional 1,393 shares during the period. Cloud Capital Management LLC purchased a new stake in shares of NBT Bancorp during the 1st quarter valued at $68,000. GAMMA Investing LLC grew its stake in shares of NBT Bancorp by 38.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,951 shares of the bank’s stock valued at $81,000 after buying an additional 546 shares during the period. Finally, Stone House Investment Management LLC purchased a new stake in shares of NBT Bancorp during the 1st quarter valued at $88,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on NBTB shares. Piper Sandler raised shares of NBT Bancorp to a “neutral” rating and set a $47.00 price target for the company in a research report on Tuesday, July 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NBT Bancorp in a research report on Saturday, September 27th. Wall Street Zen raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, DA Davidson upped their price target on shares of NBT Bancorp from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.00.

NBT Bancorp Stock Performance

Shares of NBTB stock opened at $41.28 on Wednesday. NBT Bancorp Inc. has a 12 month low of $37.31 and a 12 month high of $52.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $2.16 billion, a P/E ratio of 14.90 and a beta of 0.54. The company’s fifty day moving average price is $42.73 and its two-hundred day moving average price is $42.24.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, July 28th. The bank reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. NBT Bancorp had a net margin of 16.10% and a return on equity of 9.81%. The firm had revenue of $171.15 million for the quarter, compared to analyst estimates of $171.04 million. On average, research analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were issued a $0.37 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.48 dividend on an annualized basis and a yield of 3.6%. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.34. NBT Bancorp’s dividend payout ratio (DPR) is presently 53.43%.

Insider Buying and Selling

In other NBT Bancorp news, Director David J. Nasca sold 19,603 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $43.42, for a total value of $851,162.26. Following the transaction, the director owned 82,910 shares in the company, valued at $3,599,952.20. The trade was a 19.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.03% of the stock is owned by corporate insiders.

NBT Bancorp Profile

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.