NBT Bancorp Inc. (NASDAQ:NBTB) Stock Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 12.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 683,253 shares of the bank’s stock after buying an additional 75,693 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.45% of NBT Bancorp worth $32,632,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. acquired a new position in shares of NBT Bancorp in the 4th quarter worth approximately $12,007,000. Eagle Asset Management Inc. boosted its holdings in shares of NBT Bancorp by 76.3% during the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock worth $16,759,000 after purchasing an additional 163,952 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of NBT Bancorp by 55.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock worth $9,946,000 after purchasing an additional 80,232 shares during the period. Franklin Resources Inc. boosted its holdings in shares of NBT Bancorp by 472.1% during the third quarter. Franklin Resources Inc. now owns 74,468 shares of the bank’s stock worth $3,379,000 after purchasing an additional 61,451 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of NBT Bancorp during the third quarter worth approximately $1,909,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Insider Buying and Selling

In other news, EVP Amy Wiles sold 500 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the sale, the executive vice president now directly owns 27,409 shares of the company’s stock, valued at $1,406,355.79. This represents a 1.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Heidi M. Hoeller purchased 678 shares of the stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $48.45 per share, with a total value of $32,849.10. Following the completion of the purchase, the director now owns 6,437 shares in the company, valued at $311,872.65. The trade was a 11.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 5,694 shares of company stock worth $277,935 in the last 90 days. Corporate insiders own 3.32% of the company’s stock.

NBT Bancorp Stock Down 0.5 %

NBTB opened at $44.34 on Friday. NBT Bancorp Inc. has a fifty-two week low of $32.79 and a fifty-two week high of $52.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s fifty day moving average price is $47.33 and its two-hundred day moving average price is $47.22. The company has a market capitalization of $2.09 billion, a P/E ratio of 14.98 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, January 27th. The bank reported $0.77 EPS 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 last year, the company posted $0.72 earnings per share. On average, analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.36 annualized dividend and a yield of 3.07%. NBT Bancorp’s dividend payout ratio (DPR) is 45.95%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. DA Davidson assumed coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 target price for the company. 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 lifted 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, Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.75.

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.