NBT Bancorp Inc. (NASDAQ:NBTB) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 66.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,295 shares of the bank’s stock after acquiring an additional 517 shares during the period. GAMMA Investing LLC’s holdings in NBT Bancorp were worth $62,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. raised its stake in shares of NBT Bancorp by 68.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,582 shares of the bank’s stock valued at $4,095,000 after acquiring an additional 37,469 shares during the period. Fidelity D & D Bancorp Inc. purchased a new stake in NBT Bancorp in the third quarter valued at approximately $218,000. Franklin Resources Inc. raised its position in NBT Bancorp by 472.1% in the third quarter. Franklin Resources Inc. now owns 74,468 shares of the bank’s stock valued at $3,379,000 after purchasing an additional 61,451 shares during the period. Geode Capital Management LLC boosted its holdings in NBT Bancorp by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after acquiring an additional 10,628 shares during the period. Finally, Barclays PLC grew its holdings in shares of NBT Bancorp by 41.8% in the third quarter. Barclays PLC now owns 91,880 shares of the bank’s stock valued at $4,064,000 after purchasing an additional 27,085 shares in the last quarter. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

NBT Bancorp Stock Down 2.5 %

NBT Bancorp stock opened at $45.20 on Monday. The stock has a market cap of $2.13 billion, a PE ratio of 15.92 and a beta of 0.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s fifty day moving average is $49.10 and its two-hundred day moving average is $46.28. NBT Bancorp Inc. has a 1-year low of $32.79 and a 1-year high of $52.44.

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

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 3.01%. NBT Bancorp’s payout ratio is 47.89%.

Analysts Set New Price Targets

A number of research firms have issued reports on NBTB. Keefe, Bruyette & Woods increased their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. DA Davidson started coverage on NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective on the stock. Finally, StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $48.80.

Insider Activity at NBT Bancorp

In related news, EVP Amy Wiles sold 1,000 shares of NBT Bancorp stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $50.10, for a total value of $50,100.00. Following the sale, the executive vice president now directly owns 27,909 shares in the company, valued at $1,398,240.90. The trade was a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the transaction, the director now directly owns 38,853 shares in the company, valued at approximately $1,999,763.91. This trade represents a 50.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,694 shares of company stock worth $4,048,185 in the last three months. 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.