Thrivent Financial for Lutherans Cuts Stake in NBT Bancorp Inc. (NASDAQ:NBTB)

Thrivent Financial for Lutherans trimmed its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 5.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,043 shares of the bank’s stock after selling 2,098 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of NBT Bancorp worth $1,638,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Edgestream Partners L.P. purchased a new stake in shares of NBT Bancorp during the 2nd quarter valued at $1,974,000. Ceredex Value Advisors LLC boosted its holdings in NBT Bancorp by 2.6% in the second quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock valued at $8,473,000 after acquiring an additional 5,500 shares during the last quarter. Raymond James & Associates grew its position in NBT Bancorp by 3.9% during the third quarter. Raymond James & Associates now owns 95,062 shares of the bank’s stock valued at $4,205,000 after acquiring an additional 3,540 shares during the period. Lisanti Capital Growth LLC acquired a new stake in NBT Bancorp during the third quarter worth about $1,909,000. Finally, US Bancorp DE purchased a new position in shares of NBT Bancorp in the 3rd quarter worth about $57,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Stephens reiterated an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. StockNews.com downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, NBT Bancorp currently has an average rating of “Hold” and a consensus price target of $42.60.

Insiders Place Their Bets

In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total transaction of $882,000.00. Following the sale, the director now directly owns 517,558 shares in the company, valued at $22,824,307.80. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy E. Delaney sold 40,000 shares of the 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 of the company’s stock, valued at approximately $1,999,763.91. This trade represents a 50.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,556 shares of company stock worth $8,540,290 in the last quarter. 3.32% of the stock is owned by corporate insiders.

NBT Bancorp Price Performance

NBTB stock opened at $50.12 on Friday. The firm has a market cap of $2.36 billion, a P/E ratio of 17.65 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp Inc. has a 1 year low of $32.79 and a 1 year high of $52.31. The stock has a 50-day simple moving average of $46.30 and a 200-day simple moving average of $43.57.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $144.70 million. During the same quarter last year, the company earned $0.84 earnings per share. On average, equities analysts predict that NBT Bancorp Inc. will post 2.91 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 2.71%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is 47.89%.

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.