NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,488 shares of the bank’s stock after selling 388 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of NBT Bancorp worth $1,886,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in NBT Bancorp in the fourth quarter valued at approximately $12,007,000. Eagle Asset Management Inc. grew its position in shares of NBT Bancorp by 76.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after buying an additional 163,952 shares during the last quarter. Ceredex Value Advisors LLC grew its position in shares of NBT Bancorp by 40.9% in the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock valued at $13,680,000 after buying an additional 89,800 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in NBT Bancorp by 55.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock worth $9,946,000 after acquiring an additional 80,232 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in NBT Bancorp by 472.1% in the third quarter. Franklin Resources Inc. now owns 74,468 shares of the bank’s stock valued at $3,379,000 after acquiring an additional 61,451 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB opened at $46.87 on Friday. NBT Bancorp Inc. has a 12 month low of $32.79 and a 12 month high of $52.44. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 15.83 and a beta of 0.52. The business’s 50 day simple moving average is $47.96 and its 200-day simple moving average is $47.15. 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 (NASDAQ:NBTB) last posted its earnings results on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter in the previous year, the company earned $0.72 EPS. As a group, equities analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Monday, March 3rd. NBT Bancorp’s dividend payout ratio is presently 45.95%.

Analyst Upgrades and Downgrades

NBTB has been the topic of a number of research reports. Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research note on Wednesday, January 29th. StockNews.com lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price target on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson initiated coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, NBT Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Insider Transactions at NBT Bancorp

In related news, EVP Sarah A. Halliday sold 5,000 shares of the company’s stock in a transaction 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $51.31, for a total value of $25,655.00. Following the sale, the executive vice president now owns 27,409 shares in the company, valued at approximately $1,406,355.79. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,694 shares of company stock worth $277,935 over the last quarter. 3.32% of the stock is currently owned by insiders.

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.