Amalgamated Bank Decreases Stake in NBT Bancorp Inc. (NASDAQ:NBTB)

Amalgamated Bank lessened its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,839 shares of the bank’s stock after selling 522 shares during the quarter. Amalgamated Bank’s holdings in NBT Bancorp were worth $612,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in NBT Bancorp by 51.8% during the first quarter. BNP Paribas Financial Markets now owns 22,962 shares of the bank’s stock valued at $842,000 after purchasing an additional 7,831 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of NBT Bancorp in the 1st quarter valued at about $178,000. Russell Investments Group Ltd. grew its position in NBT Bancorp by 978.7% in the first quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock worth $3,318,000 after acquiring an additional 82,071 shares in the last quarter. ProShare Advisors LLC raised its position in NBT Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 9,268 shares of the bank’s stock valued at $340,000 after purchasing an additional 635 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of NBT Bancorp by 150.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank’s stock valued at $1,104,000 after purchasing an additional 19,661 shares during the last quarter. Institutional investors own 58.46% of the company’s stock.

Analyst Upgrades and Downgrades

NBTB has been the topic of a number of recent analyst reports. StockNews.com raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Finally, Stephens reiterated an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.60.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $49.26 on Friday. The stock has a 50-day moving average of $45.29 and a 200 day moving average of $42.58. NBT Bancorp Inc. has a twelve month low of $32.79 and a twelve month high of $51.93. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 17.35 and a beta of 0.49. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $144.70 million. During the same quarter in the previous year, the company posted $0.84 EPS. Sell-side analysts anticipate that NBT Bancorp Inc. will post 2.91 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director V Daniel Robinson II sold 50,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $44.58, for a total value of $2,229,000.00. Following the completion of the transaction, the director now owns 417,558 shares in the company, valued at $18,614,735.64. This represents a 10.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Amy Wiles sold 556 shares of NBT Bancorp stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the transaction, the executive vice president now directly owns 28,909 shares in the company, valued at approximately $1,300,905. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 162,556 shares of company stock worth $7,545,690 over 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.