NBT Bancorp Inc. $NBTB Stake Lifted by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 61.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 115,900 shares of the bank’s stock after purchasing an additional 44,048 shares during the period. SG Americas Securities LLC’s holdings in NBT Bancorp were worth $4,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of NBTB. Tudor Investment Corp ET AL bought a new stake in NBT Bancorp in the 3rd quarter valued at about $4,886,000. JPMorgan Chase & Co. boosted its stake in NBT Bancorp by 26.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock valued at $13,986,000 after purchasing an additional 70,594 shares during the period. Financial Planning Hawaii Inc. bought a new position in NBT Bancorp in the 4th quarter worth about $641,000. IFP Advisors Inc grew its position in NBT Bancorp by 85,479.3% in the 4th quarter. IFP Advisors Inc now owns 24,818 shares of the bank’s stock worth $1,030,000 after purchasing an additional 24,789 shares during the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of NBT Bancorp by 316.9% in the fourth quarter. GSA Capital Partners LLP now owns 29,006 shares of the bank’s stock valued at $1,204,000 after purchasing an additional 22,048 shares during the period. Institutional investors and hedge funds own 58.46% of the company’s stock.

Insider Buying and Selling at NBT Bancorp

In other news, EVP Ruth H. Mahoney sold 5,000 shares of NBT Bancorp stock in a transaction on Friday, June 5th. The stock was sold at an average price of $46.60, for a total transaction of $233,000.00. Following the transaction, the executive vice president directly owned 16,428 shares in the company, valued at approximately $765,544.80. This trade represents a 23.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Heidi M. Hoeller sold 2,100 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $48.03, for a total value of $100,863.00. Following the completion of the sale, the director directly owned 11,560 shares in the company, valued at $555,226.80. This represents a 15.37% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.99% of the stock is currently owned by company insiders.

NBT Bancorp Stock Down 0.8%

NBT Bancorp stock opened at $49.17 on Tuesday. NBT Bancorp Inc. has a 52 week low of $39.19 and a 52 week high of $49.98. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 14.01 and a beta of 0.49. The company’s 50-day moving average price is $46.00 and its two-hundred day moving average price is $44.38. 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 (NASDAQ:NBTB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. The company had revenue of $184.48 million during the quarter, compared to the consensus estimate of $185.35 million. On average, analysts expect that NBT Bancorp Inc. will post 4.14 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, June 1st. NBT Bancorp’s dividend payout ratio (DPR) is presently 42.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. DA Davidson reaffirmed a “buy” rating and set a $52.00 price target on shares of NBT Bancorp in a report on Monday, April 27th. Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Hovde Group lowered their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a research report on Monday, April 27th. Finally, Piper Sandler lifted their target price on NBT Bancorp from $50.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.50.

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.