NBT Bancorp Inc. $NBTB Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC lifted its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 34.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,314 shares of the bank’s stock after acquiring an additional 50,079 shares during the period. ProShare Advisors LLC’s holdings in NBT Bancorp were worth $9,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in NBTB. John Boyer Inc. purchased a new position in NBT Bancorp in the 3rd quarter worth $52,000. NBT Bank N.A. acquired a new stake in NBT Bancorp during the 3rd quarter worth about $13,327,000. Farther Finance Advisors LLC grew its stake in NBT Bancorp by 7.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,622 shares of the bank’s stock valued at $182,000 after purchasing an additional 254 shares during the last quarter. Canandaigua National Trust Co of Florida purchased a new stake in NBT Bancorp during the 3rd quarter valued at about $468,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in NBT Bancorp during the 2nd quarter valued at about $219,000. 58.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NBTB shares. Piper Sandler reissued an “overweight” rating and issued a $61.00 price objective (down from $62.00) on shares of NBT Bancorp in a report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NBT Bancorp in a report on Monday, October 19th. Stephens downgraded NBT Bancorp from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $52.00 to $55.00 in a report on Thursday, July 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $55.00 target price (down from $58.00) on shares of NBT Bancorp in a research report on Friday, October 30th. Finally, Wall Street Zen upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.90.

NBT Bancorp Stock Down 1.6%

NASDAQ:NBTB opened at $52.61 on Wednesday. The firm has a market capitalization of $2.73 billion, a P/E ratio of 12.91 and a beta of 0.49. NBT Bancorp Inc. has a 1-year low of $39.44 and a 1-year high of $54.50. The company’s fifty day moving average price is $51.39 and its 200-day moving average price is $47.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Tuesday, October 27th. The bank reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.02. The firm had revenue of $195.03 million during the quarter, compared to analysts’ expectations of $193.83 million. NBT Bancorp had a net margin of 22.87% and a return on equity of 11.28%. As a group, equities research analysts anticipate that NBT Bancorp Inc. will post 4.19 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, December 1st. NBT Bancorp’s dividend payout ratio (DPR) is currently 38.37%.

About NBT Bancorp

NBT Bancorp Inc is the bank holding company for NBT Bank, a community banking institution headquartered in Norwich, New York. Through NBT Bank and its subsidiaries, the company provides banking, lending, investment, insurance and financial services to consumers, businesses, nonprofit organizations and municipalities.

NBT Bank offers checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, business lending, cash-management services and agricultural financing.