American Century Companies Inc. Has $15.02 Million Stake in NBT Bancorp Inc. (NASDAQ:NBTB)

American Century Companies Inc. lowered its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 389,009 shares of the bank’s stock after selling 1,970 shares during the period. American Century Companies Inc. owned approximately 0.83% of NBT Bancorp worth $15,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of NBTB. Charles Schwab Investment Management Inc. boosted its position in shares of NBT Bancorp by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 530,209 shares of the bank’s stock worth $22,221,000 after purchasing an additional 25,528 shares in the last quarter. Norges Bank acquired a new position in NBT Bancorp in the fourth quarter valued at about $12,547,000. Hsbc Holdings PLC bought a new stake in shares of NBT Bancorp in the fourth quarter worth about $11,434,000. Eagle Asset Management Inc. increased its stake in NBT Bancorp by 1.8% during the 4th quarter. Eagle Asset Management Inc. now owns 237,975 shares of the bank’s stock worth $9,974,000 after purchasing an additional 4,180 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in NBT Bancorp by 1.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 293,856 shares of the bank’s stock worth $12,316,000 after buying an additional 4,225 shares during the period. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Stock Down 2.0 %

NBT Bancorp stock opened at $45.23 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 1-year low of $30.31 and a 1-year high of $50.83. The company has a fifty day simple moving average of $46.41 and a 200 day simple moving average of $39.77. The company has a market cap of $2.13 billion, a P/E ratio of 17.46 and a beta of 0.50.

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

NBT Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, August 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.01%. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.32. NBT Bancorp’s dividend payout ratio is currently 52.51%.

Analyst Upgrades and Downgrades

NBTB has been the subject of several research analyst reports. Stephens reiterated an “equal weight” rating and issued a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. Raymond James cut NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $42.60.

Insider Activity

In related news, Director V Daniel Robinson II sold 50,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $44.58, for a total transaction of $2,229,000.00. Following the transaction, the director now directly owns 417,558 shares in the company, valued at $18,614,735.64. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director V Daniel Robinson II sold 50,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.58, for a total value of $2,229,000.00. Following the transaction, the director now owns 417,558 shares in the company, valued at approximately $18,614,735.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Martin Randolph Sparks sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total transaction of $48,370.00. Following the sale, the executive vice president now owns 15,003 shares of the company’s stock, valued at $725,695.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,556 shares of company stock valued at $4,527,790. 3.32% of the stock is owned by insiders.

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.