Quest Partners LLC Purchases Shares of 1,300 NBT Bancorp Inc. (NASDAQ:NBTB)

Quest Partners LLC bought a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 1,300 shares of the bank’s stock, valued at approximately $57,000.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after buying an additional 252 shares during the period. Arizona State Retirement System raised its stake in shares of NBT Bancorp by 2.0% during the second quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock valued at $509,000 after purchasing an additional 258 shares during the period. Inspire Investing LLC lifted its position in shares of NBT Bancorp by 3.7% during the third quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock worth $415,000 after purchasing an additional 331 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of NBT Bancorp by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock valued at $915,000 after purchasing an additional 400 shares during the period. Finally, US Bancorp DE acquired a new stake in NBT Bancorp during the 3rd quarter valued at $57,000. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jack H. Webb sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $50.06, for a total transaction of $500,600.00. Following the completion of the transaction, the director now owns 45,018 shares in the company, valued at $2,253,601.08. The trade was a 18.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Martin Randolph Sparks sold 1,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the completion of the sale, the executive vice president now directly owns 15,003 shares in the company, valued at $725,695.11. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 182,556 shares of company stock valued at $8,540,290. Company insiders own 3.32% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $50.12 on Friday. The firm has a market cap of $2.36 billion, a PE ratio of 17.65 and a beta of 0.49. NBT Bancorp Inc. has a 1 year low of $32.79 and a 1 year high of $52.31. The firm’s 50-day simple moving average is $46.30 and its 200-day simple moving average is $43.61. 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 (NASDAQ:NBTB) last released its earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The company had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. During the same quarter last year, the business posted $0.84 EPS. Equities analysts forecast that NBT Bancorp Inc. will post 2.91 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stephens reissued an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, NBT Bancorp presently has an average rating of “Hold” and an average price target of $42.60.

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.