Wealth Enhancement Advisory Services LLC Buys 12,925 Shares of NBT Bancorp Inc. $NBTB

Wealth Enhancement Advisory Services LLC grew its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 13.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,986 shares of the bank’s stock after purchasing an additional 12,925 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in NBT Bancorp were worth $4,628,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Savant Capital LLC lifted its stake in shares of NBT Bancorp by 168.4% in the third quarter. Savant Capital LLC now owns 71,060 shares of the bank’s stock valued at $2,967,000 after buying an additional 44,585 shares during the period. SG Americas Securities LLC increased its stake in NBT Bancorp by 110.6% during the third quarter. SG Americas Securities LLC now owns 24,302 shares of the bank’s stock valued at $1,015,000 after acquiring an additional 12,761 shares during the period. JPMorgan Chase & Co. increased its stake in NBT Bancorp by 26.7% during the third quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock valued at $13,986,000 after acquiring an additional 70,594 shares during the period. Norges Bank acquired a new position in NBT Bancorp in the 2nd quarter valued at approximately $1,646,000. Finally, Endeavour Capital Advisors Inc. bought a new stake in shares of NBT Bancorp in the 2nd quarter worth approximately $3,371,000. Institutional investors own 58.46% of the company’s stock.

Insider Activity

In related 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 cost of $42.97 per share, for a total transaction of $976,708.10. Following the completion of the transaction, the director owned 74,615 shares of the company’s stock, valued at approximately $3,206,206.55. This trade represents a 43.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Amy Wiles sold 4,435 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $45.72, for a total transaction of $202,768.20. Following the sale, the executive vice president directly owned 21,500 shares in the company, valued at $982,980. This trade represents a 17.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.03% of the stock is owned by corporate insiders.

NBT Bancorp Trading Up 0.4%

Shares of NBTB stock opened at $42.02 on Tuesday. The company has a market capitalization of $2.19 billion, a P/E ratio of 12.73 and a beta of 0.50. NBT Bancorp Inc. has a 12-month low of $37.31 and a 12-month high of $46.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $43.57 and a 200 day moving average price of $42.50.

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

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, March 2nd. NBT Bancorp’s payout ratio is currently 44.85%.

Wall Street Analyst Weigh In

NBTB has been the topic of several recent research reports. DA Davidson assumed coverage on NBT Bancorp in a report on Wednesday, February 25th. They set a “buy” rating and a $54.00 price objective on the stock. Weiss Ratings upgraded NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Janney Montgomery Scott cut NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Brean Capital downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Piper Sandler initiated coverage on shares of NBT Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.00.

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.