Public Sector Pension Investment Board Buys 25,924 Shares of NBT Bancorp Inc. $NBTB

Public Sector Pension Investment Board lifted its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 14.5% during the 3rd quarter, Holdings Channel reports. The firm owned 204,320 shares of the bank’s stock after buying an additional 25,924 shares during the quarter. Public Sector Pension Investment Board’s holdings in NBT Bancorp were worth $8,532,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NBTB. Savant Capital LLC lifted its holdings in NBT Bancorp by 168.4% during the 3rd quarter. Savant Capital LLC now owns 71,060 shares of the bank’s stock valued at $2,967,000 after purchasing an additional 44,585 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in shares of NBT Bancorp during the third quarter worth approximately $66,000. Flagship Wealth Advisors LLC bought a new position in shares of NBT Bancorp in the third quarter valued at approximately $42,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of NBT Bancorp in the third quarter valued at approximately $223,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of NBT Bancorp by 0.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 95,061 shares of the bank’s stock worth $3,924,000 after acquiring an additional 744 shares in the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

Insider Activity

In other NBT Bancorp news, Director Timothy E. Delaney bought 22,730 shares of NBT Bancorp stock in a transaction dated Wednesday, January 28th. The shares were bought at an average price of $42.97 per share, with a total value of $976,708.10. Following the purchase, the director owned 74,615 shares of the company’s stock, valued at $3,206,206.55. This trade represents a 43.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NBTB shares. Janney Montgomery Scott raised NBT Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of NBT Bancorp in a report on Monday, December 29th. Finally, DA Davidson cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

NBT Bancorp Stock Up 0.6%

Shares of NBTB opened at $45.82 on Tuesday. The business’s fifty day moving average price is $43.79 and its two-hundred day moving average price is $42.58. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 13.88 and a beta of 0.51. NBT Bancorp Inc. has a 52 week low of $37.31 and a 52 week high of $48.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, January 26th. The bank reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $185.14 million during the quarter, compared to the consensus estimate of $183.63 million. NBT Bancorp had a return on equity of 10.86% and a net margin of 18.67%. On average, analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 3.2%. NBT Bancorp’s dividend payout ratio is presently 44.85%.

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.