NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,548 shares of the bank’s stock after selling 1,918 shares during the quarter. Corebridge Financial Inc. owned about 0.05% of NBT Bancorp worth $1,172,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in NBT Bancorp by 66.5% during the 4th quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock worth $62,000 after purchasing an additional 517 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in NBT Bancorp during the fourth quarter worth approximately $87,000. US Bancorp DE grew its stake in NBT Bancorp by 42.0% during the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock worth $88,000 after buying an additional 543 shares during the period. Crews Bank & Trust acquired a new stake in shares of NBT Bancorp in the fourth quarter worth $98,000. Finally, KBC Group NV raised its stake 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 valued at $103,000 after acquiring an additional 693 shares during the period. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Trading Down 2.1 %

Shares of NBTB opened at $38.83 on Friday. NBT Bancorp Inc. has a one year low of $32.93 and a one year high of $52.44. The stock has a 50-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 quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $1.83 billion, a P/E ratio of 13.12 and a beta of 0.53.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $0.72 EPS. Sell-side analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Monday, March 3rd. NBT Bancorp’s payout ratio is currently 45.95%.

Insider Activity

In other NBT Bancorp news, 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 transaction of $242,250.00. Following the sale, the executive vice president now directly owns 25,564 shares of the company’s stock, valued at approximately $1,238,575.80. This represents a 16.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Heidi M. Hoeller purchased 678 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was acquired 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 approximately $311,872.65. This trade represents a 11.77 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NBTB shares. DA Davidson initiated coverage on NBT Bancorp in a report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target for the company. Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a research note on Wednesday, January 29th. Hovde Group began coverage on NBT Bancorp in a research report on Friday, March 21st. They set a “market perform” rating and a $50.00 price target on the stock. Finally, StockNews.com downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, NBT Bancorp presently has an average rating of “Hold” and an average target price of $54.50.

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.