Rhumbline Advisers Reduces Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

Rhumbline Advisers reduced its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,872 shares of the bank’s stock after selling 3,547 shares during the period. Rhumbline Advisers owned about 0.29% of NBT Bancorp worth $6,585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legato Capital Management LLC raised its position in NBT Bancorp by 102.7% during the 4th quarter. Legato Capital Management LLC now owns 14,835 shares of the bank’s stock valued at $709,000 after purchasing an additional 7,515 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of NBT Bancorp during the fourth quarter valued at approximately $551,000. Crews Bank & Trust bought a new position in shares of NBT Bancorp during the fourth quarter valued at approximately $98,000. KBC Group NV lifted its stake in NBT Bancorp by 47.5% in the fourth quarter. KBC Group NV now owns 2,152 shares of the bank’s stock worth $103,000 after acquiring an additional 693 shares during the period. Finally, Burney Co. bought a new stake in NBT Bancorp in the fourth quarter valued at $441,000. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NASDAQ NBTB opened at $46.91 on Thursday. The company has a market cap of $2.21 billion, a P/E ratio of 15.85 and a beta of 0.52. NBT Bancorp Inc. has a 52-week low of $32.79 and a 52-week high of $52.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s fifty day moving average is $47.78 and its two-hundred day moving average is $47.21.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.34 per share. 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 currently 45.95%.

Insider Transactions at NBT Bancorp

In related news, Director Heidi M. Hoeller bought 678 shares of the company’s stock in a transaction on Friday, February 7th. The shares were acquired at an average price of $48.45 per share, with a total value of $32,849.10. Following the transaction, the director now owns 6,437 shares of the company’s stock, valued at $311,872.65. The trade was a 11.77 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sarah A. Halliday sold 5,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction of $242,250.00. Following the sale, the executive vice president now directly owns 25,564 shares of the company’s stock, valued at approximately $1,238,575.80. The trade was a 16.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,694 shares of company stock worth $277,935. Insiders own 3.32% of the company’s stock.

Analyst Ratings Changes

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

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.