BNP Paribas Financial Markets Has $691,000 Stock Position in NBT Bancorp Inc. (NASDAQ:NBTB)

BNP Paribas Financial Markets boosted its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 68.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,616 shares of the bank’s stock after buying an additional 6,358 shares during the quarter. BNP Paribas Financial Markets’ holdings in NBT Bancorp were worth $691,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NBTB. Victory Capital Management Inc. raised its holdings in NBT Bancorp by 540.2% in the 2nd quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock valued at $27,147,000 after buying an additional 593,436 shares during the last quarter. Bank of New York Mellon Corp increased its position in NBT Bancorp by 36.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock valued at $24,307,000 after acquiring an additional 169,180 shares during the period. Eagle Asset Management Inc. raised its stake in shares of NBT Bancorp by 76.3% during the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after acquiring an additional 163,952 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of NBT Bancorp by 14.9% during the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after purchasing an additional 107,404 shares during the period. Finally, Ceredex Value Advisors LLC grew its stake in shares of NBT Bancorp by 40.9% in the third quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock worth $13,680,000 after purchasing an additional 89,800 shares during the last quarter. Institutional investors own 58.46% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Amy Wiles sold 556 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the transaction, the executive vice president now directly owns 28,909 shares of the company’s stock, valued at approximately $1,300,905. This trade represents a 1.89 % 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 V Daniel Robinson II sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $44.78, for a total transaction of $1,343,400.00. Following the completion of the transaction, the director now owns 387,558 shares of the company’s stock, valued at approximately $17,354,847.24. The trade was a 7.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,556 shares of company stock worth $5,380,920. 3.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NBTB shares. DA Davidson initiated coverage on shares of NBT Bancorp in a research report on Thursday. They issued a “neutral” rating and a $60.00 price target on the stock. Keefe, Bruyette & Woods upped their price target on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Stephens restated an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, NBT Bancorp presently has a consensus rating of “Hold” and an average target price of $48.17.

NBT Bancorp Stock Up 0.2 %

Shares of NASDAQ NBTB opened at $51.68 on Friday. The business has a 50-day simple moving average of $47.50 and a two-hundred day simple moving average of $44.35. NBT Bancorp Inc. has a 52 week low of $32.79 and a 52 week high of $52.31. The company has a market cap of $2.44 billion, a P/E ratio of 18.20 and a beta of 0.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same quarter last year, the company posted $0.84 EPS. Research analysts anticipate that NBT Bancorp Inc. will post 2.94 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s payout ratio is currently 47.89%.

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.