Assenagon Asset Management S.A. Purchases New Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

Assenagon Asset Management S.A. acquired a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 251,396 shares of the bank’s stock, valued at approximately $12,007,000. Assenagon Asset Management S.A. owned about 0.53% of NBT Bancorp as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of NBT Bancorp by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock worth $88,675,000 after purchasing an additional 46,498 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of NBT Bancorp by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 103,705 shares of the bank’s stock worth $4,003,000 after acquiring an additional 7,183 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of NBT Bancorp in the 2nd quarter valued at approximately $214,000. Deprince Race & Zollo Inc. lifted its stake in 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 last quarter. Finally, GAMMA Investing LLC increased its stake in NBT Bancorp by 47.9% during the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after purchasing an additional 252 shares during the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NBTB has been the subject of several recent research reports. DA Davidson assumed coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price for the company. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods raised their target price on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.80.

Insider Buying and Selling

In other NBT Bancorp news, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the transaction, the director now owns 38,853 shares in the company, valued at approximately $1,999,763.91. This represents a 50.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Amy Wiles sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $50.10, for a total transaction of $50,100.00. Following the completion of the sale, the executive vice president now owns 27,909 shares of the company’s stock, valued at approximately $1,398,240.90. The trade was a 3.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,694 shares of company stock valued at $4,048,185. Company insiders own 3.32% of the company’s stock.

NBT Bancorp Price Performance

Shares of NBT Bancorp stock opened at $47.86 on Friday. NBT Bancorp Inc. has a 52 week low of $32.79 and a 52 week high of $52.44. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.26 billion, a PE ratio of 16.85 and a beta of 0.53. The company’s 50-day moving average price is $49.05 and its two-hundred day moving average price is $46.53.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results 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. The company had revenue of $202.00 million for the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $0.84 earnings per share. As a group, sell-side analysts anticipate that NBT Bancorp Inc. will post 2.95 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.34 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.36 annualized dividend and a dividend yield of 2.84%. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

NBT Bancorp Company Profile

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.