NBT Bancorp Inc. (NASDAQ:NBTB) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 36.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 629,715 shares of the bank’s stock after acquiring an additional 169,180 shares during the period. Bank of New York Mellon Corp owned 1.34% of NBT Bancorp worth $24,307,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its stake in shares of NBT Bancorp by 150.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank’s stock valued at $1,104,000 after acquiring an additional 19,661 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in NBT Bancorp in the 1st quarter worth about $796,000. Charles Schwab Investment Management Inc. boosted its stake in NBT Bancorp by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,209 shares of the bank’s stock worth $22,221,000 after buying an additional 25,528 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in NBT Bancorp in the 4th quarter worth about $11,434,000. Finally, Russell Investments Group Ltd. boosted its stake in NBT Bancorp by 978.7% in the 1st quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock worth $3,318,000 after buying an additional 82,071 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NBTB shares. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Stephens lowered NBT Bancorp from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $42.00 to $49.00 in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.60.

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $47.55 on Thursday. The stock’s 50-day moving average is $44.65 and its 200-day moving average is $38.82. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 18.36 and a beta of 0.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.86. NBT Bancorp Inc. has a 12 month low of $30.31 and a 12 month high of $50.83.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The firm had revenue of $194.00 million during the quarter, compared to analysts’ expectations of $139.02 million. NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. During the same quarter last year, the business earned $0.80 earnings per share. Equities analysts anticipate that NBT Bancorp Inc. will post 2.86 earnings per share for the current year.

NBT Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.34 per share. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is presently 52.51%.

Insider Activity at NBT Bancorp

In related news, EVP Sarah A. Halliday sold 1,325 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $35.66, for a total transaction of $47,249.50. Following the sale, the executive vice president now directly owns 32,402 shares in the company, valued at approximately $1,155,455.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.32% of the company’s stock.

About NBT Bancorp

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.