NBT Bancorp Inc. (NASDAQ:NBTB) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 68.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,582 shares of the bank’s stock after buying an additional 37,469 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of NBT Bancorp worth $4,095,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NBTB. GAMMA Investing LLC lifted its holdings in shares of NBT Bancorp by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after acquiring an additional 252 shares during the last quarter. US Bancorp DE acquired a new position in NBT Bancorp during the third quarter worth $57,000. Quest Partners LLC acquired a new position in NBT Bancorp during the third quarter worth $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of NBT Bancorp during the third quarter worth $103,000. Finally, AQR Capital Management LLC purchased a new stake in shares of NBT Bancorp in the 2nd quarter valued at $214,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $47.86 on Friday. The business has a 50-day simple moving average of $49.05 and a 200-day simple moving average of $46.47. 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 one year low of $32.79 and a one year high of $52.44. The company has a market cap of $2.26 billion, a PE ratio of 16.85 and a beta of 0.53.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.80 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 during the quarter, compared to analysts’ expectations of $144.70 million. During the same quarter in the previous year, the business posted $0.84 EPS. On average, equities research analysts forecast that NBT Bancorp Inc. will post 2.95 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, 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 directly owns 38,853 shares in the company, valued at $1,999,763.91. This represents a 50.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John H. Watt, Jr. sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the sale, the director now directly owns 143,101 shares in the company, valued at approximately $6,503,940.45. The trade was a 12.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,694 shares of company stock valued at $4,048,185 over the last quarter. 3.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NBTB has been the subject of several research reports. Keefe, Bruyette & Woods lifted their target price on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson assumed coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price on the stock. Finally, StockNews.com lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.80.

NBT Bancorp 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.