Vanguard Group Inc. Lowers Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Vanguard Group Inc. cut its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,570,364 shares of the bank’s stock after selling 6,199 shares during the quarter. Vanguard Group Inc. owned about 11.81% of NBT Bancorp worth $266,041,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of NBT Bancorp during the 4th quarter valued at $23,651,000. Assenagon Asset Management S.A. purchased a new position in NBT Bancorp during the 4th quarter valued at about $12,007,000. Great Lakes Advisors LLC bought a new stake in NBT Bancorp during the fourth quarter worth about $4,294,000. Wealth Enhancement Advisory Services LLC grew its holdings in NBT Bancorp by 55.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock worth $9,946,000 after purchasing an additional 80,232 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of NBT Bancorp by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock valued at $32,632,000 after purchasing an additional 75,693 shares in the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NBT Bancorp news, Director Heidi M. Hoeller acquired 678 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $48.45 per share, with a total value of $32,849.10. Following the completion of the acquisition, the director now owns 6,437 shares in the company, valued at $311,872.65. This represents a 11.77 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sarah A. Halliday sold 5,000 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. 3.32% of the stock is currently owned by insiders.

NBT Bancorp Stock Down 2.1 %

NBTB stock opened at $38.83 on Friday. The stock has a market capitalization of $1.83 billion, a P/E ratio of 13.12 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. NBT Bancorp Inc. has a 1-year low of $32.93 and a 1-year high of $52.44. The business has a fifty day moving average price of $45.51 and a 200-day moving average price of $46.65.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results 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 return on equity of 9.39% and a net margin of 17.84%. During the same period in the previous year, the business posted $0.72 earnings per share. Equities analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Hovde Group initiated 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. DA Davidson began coverage on NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 target price on the stock. Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Wednesday, January 29th. Finally, StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NBT Bancorp has an average rating of “Hold” and a consensus price target 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.