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

NBT Bank N A NY lessened its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 7.5% during the third quarter, HoldingsChannel.com reports. The fund owned 248,685 shares of the bank’s stock after selling 20,122 shares during the period. NBT Bank N A NY’s holdings in NBT Bancorp were worth $11,192,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of NBT Bancorp by 1,645.9% in the second quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after buying an additional 609 shares in the last quarter. Hantz Financial Services Inc. bought a new position in NBT Bancorp in the 2nd quarter worth about $33,000. Farther Finance Advisors LLC raised its holdings in shares of NBT Bancorp by 2,902.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,441 shares of the bank’s stock valued at $60,000 after acquiring an additional 1,393 shares in the last quarter. GAMMA Investing LLC boosted its position 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 acquiring an additional 546 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of NBT Bancorp by 23.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,316 shares of the bank’s stock valued at $139,000 after acquiring an additional 620 shares during the last quarter. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $43.59 on Friday. The company has a 50-day simple moving average of $42.27 and a two-hundred day simple moving average of $42.30. NBT Bancorp Inc. has a 12-month low of $37.31 and a 12-month high of $49.18. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 14.53 and a beta of 0.50. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.10.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, October 27th. The bank reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.08. The company had revenue of $186.07 million during the quarter, compared to analyst estimates of $183.87 million. NBT Bancorp had a return on equity of 10.35% and a net margin of 17.24%. On average, equities analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, December 1st. NBT Bancorp’s dividend payout ratio is 49.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NBTB shares. Weiss Ratings reiterated a “hold (c)” rating on shares of NBT Bancorp in a research report on Monday, December 29th. Piper Sandler set a $47.00 price objective on shares of NBT Bancorp and gave the stock an “overweight” rating in a report on Tuesday, October 14th. DA Davidson cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Janney Montgomery Scott raised NBT Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.25.

Insider Activity

In other news, Director Timothy E. Delaney bought 10,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were purchased at an average price of $40.98 per share, for a total transaction of $409,800.00. Following the completion of the acquisition, the director owned 51,885 shares of the company’s stock, valued at approximately $2,126,247.30. This trade represents a 23.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.03% of the company’s stock.

NBT Bancorp Company 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.