KLP Kapitalforvaltning AS Purchases New Position in NBT Bancorp Inc. (NASDAQ:NBTB)

KLP Kapitalforvaltning AS purchased a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,100 shares of the bank’s stock, valued at approximately $435,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of NBT Bancorp by 66.5% during the 4th quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock valued at $62,000 after purchasing an additional 517 shares in the last quarter. US Bancorp DE boosted its position in NBT Bancorp by 42.0% during the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock valued at $88,000 after acquiring an additional 543 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of NBT Bancorp by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank’s stock worth $132,000 after acquiring an additional 597 shares during the period. KBC Group NV raised its position in shares of NBT Bancorp by 47.5% in the 4th quarter. KBC Group NV now owns 2,152 shares of the bank’s stock worth $103,000 after acquiring an additional 693 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of NBT Bancorp by 0.8% in the 4th quarter. Swiss National Bank now owns 92,800 shares of the bank’s stock valued at $4,432,000 after purchasing an additional 700 shares during the period. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB opened at $38.83 on Friday. The business has a fifty day moving average price of $45.51 and a 200-day moving average price of $46.65. 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 company has a market capitalization of $1.83 billion, a PE ratio of 13.12 and a beta of 0.53. NBT Bancorp Inc. has a 1-year low of $32.93 and a 1-year high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter in the prior year, the business earned $0.72 EPS. As a group, equities analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.36 annualized dividend and a yield of 3.50%. NBT Bancorp’s dividend payout ratio (DPR) is presently 45.95%.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director Heidi M. Hoeller purchased 678 shares of the stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $48.45 per share, with a total value of $32,849.10. Following the completion of the acquisition, the director now directly owns 6,437 shares in the company, valued at $311,872.65. This trade represents a 11.77 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sarah A. Halliday sold 5,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $48.45, for a total value of $242,250.00. Following the sale, the executive vice president now directly owns 25,564 shares in the company, valued at $1,238,575.80. This trade represents a 16.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.32% of the company’s stock.

Wall Street Analysts Forecast Growth

NBTB has been the topic of several recent research reports. Hovde Group assumed coverage on NBT Bancorp in a research note on Friday, March 21st. They issued a “market perform” rating and a $50.00 price target on the stock. StockNews.com downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. DA Davidson began coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target for the company. Finally, Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.50.

NBT Bancorp 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.