Horizon Investments LLC Acquires New Holdings in NBT Bancorp Inc. $NBTB

Horizon Investments LLC acquired a new stake in NBT Bancorp Inc. (NASDAQ:NBTB) in the 4th quarter, Holdings Channel.com reports. The fund acquired 14,343 shares of the bank’s stock, valued at approximately $596,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. SG Americas Securities LLC boosted its position in NBT Bancorp by 195.7% during the 4th quarter. SG Americas Securities LLC now owns 71,852 shares of the bank’s stock worth $2,983,000 after acquiring an additional 47,550 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in NBT Bancorp during the 3rd quarter worth approximately $4,886,000. Savant Capital LLC boosted its position in NBT Bancorp by 168.4% during the 3rd quarter. Savant Capital LLC now owns 71,060 shares of the bank’s stock worth $2,967,000 after acquiring an additional 44,585 shares during the last quarter. JPMorgan Chase & Co. boosted its position in NBT Bancorp by 26.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock worth $13,986,000 after acquiring an additional 70,594 shares during the last quarter. Finally, Financial Planning Hawaii Inc. acquired a new position in NBT Bancorp during the 4th quarter worth approximately $641,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Hovde Group reduced their price target on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research report on Monday, April 27th. DA Davidson reaffirmed a “buy” rating and set a $52.00 price target on shares of NBT Bancorp in a research report on Monday, April 27th. Janney Montgomery Scott downgraded NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Brean Capital downgraded NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.50.

NBT Bancorp Trading Up 1.2%

NASDAQ NBTB opened at $45.59 on Friday. The company has a market cap of $2.37 billion, a PE ratio of 12.99 and a beta of 0.47. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. NBT Bancorp Inc. has a 12 month low of $39.19 and a 12 month high of $46.92. The stock has a 50 day moving average of $43.32 and a 200-day moving average of $42.99.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). The company had revenue of $184.48 million during the quarter, compared to analyst estimates of $185.36 million. NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. On average, equities research analysts anticipate that NBT Bancorp Inc. will post 4.15 EPS for the current fiscal year.

Insider Activity at NBT Bancorp

In other news, EVP Amy Wiles sold 4,435 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $45.72, for a total value of $202,768.20. Following the completion of the sale, the executive vice president owned 21,500 shares of the company’s stock, valued at approximately $982,980. This represents a 17.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.99% of the company’s stock.

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.