Quantbot Technologies LP Purchases New Stake in NBT Bancorp Inc. $NBTB

Quantbot Technologies LP acquired a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,904 shares of the bank’s stock, valued at approximately $581,000.

Other large investors have also recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in shares of NBT Bancorp during the 3rd quarter worth approximately $291,000. JPMorgan Chase & Co. grew its stake in shares of NBT Bancorp by 26.7% during the third quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock worth $13,986,000 after buying an additional 70,594 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in NBT Bancorp by 14.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 204,320 shares of the bank’s stock worth $8,532,000 after purchasing an additional 25,924 shares in the last quarter. Savant Capital LLC grew its holdings in shares of NBT Bancorp by 168.4% during the third quarter. Savant Capital LLC now owns 71,060 shares of the bank’s stock worth $2,967,000 after purchasing an additional 44,585 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in NBT Bancorp during the 3rd quarter worth approximately $66,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 4,435 shares of NBT Bancorp stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $45.72, for a total transaction of $202,768.20. Following the completion of the transaction, the executive vice president owned 21,500 shares of the company’s stock, valued at $982,980. The trade was a 17.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy E. Delaney acquired 22,730 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, January 28th. The shares were purchased at an average cost 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 represents a 43.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.03% of the stock is currently owned by company insiders.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB opened at $41.63 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $2.17 billion, a P/E ratio of 12.62 and a beta of 0.50. NBT Bancorp Inc. has a fifty-two week low of $37.31 and a fifty-two week high of $46.92. The company’s 50-day moving average is $43.90 and its 200 day moving average is $42.79.

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

NBT Bancorp Announces Dividend

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. This represents a $1.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, March 2nd. NBT Bancorp’s dividend payout ratio (DPR) is currently 44.85%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Janney Montgomery Scott cut NBT Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, February 23rd. Brean Capital lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Weiss Ratings upgraded NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Finally, DA Davidson assumed coverage on shares of NBT Bancorp in a research report on Wednesday, February 25th. They issued a “buy” rating and a $54.00 price target on the stock. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.33.

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.