14,343 Shares in NBT Bancorp Inc. $NBTB Purchased by Horizon Investments LLC

Horizon Investments LLC acquired a new position in NBT Bancorp Inc. (NASDAQ:NBTB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,343 shares of the bank’s stock, valued at approximately $596,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in NBT Bancorp by 1.9% during the 3rd quarter. Amalgamated Bank now owns 14,993 shares of the bank’s stock worth $626,000 after acquiring an additional 282 shares during the period. State of Alaska Department of Revenue grew its holdings in NBT Bancorp by 1.4% during the 4th quarter. State of Alaska Department of Revenue now owns 28,929 shares of the bank’s stock worth $1,200,000 after acquiring an additional 397 shares during the period. EverSource Wealth Advisors LLC grew its holdings in NBT Bancorp by 1,645.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after acquiring an additional 609 shares during the period. Smartleaf Asset Management LLC grew its holdings in NBT Bancorp by 23.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,316 shares of the bank’s stock worth $139,000 after acquiring an additional 620 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NBT Bancorp by 2.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,077 shares of the bank’s stock worth $1,167,000 after acquiring an additional 689 shares during the period. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $45.59 on Friday. The firm has a market capitalization of $2.37 billion, a P/E ratio of 12.99 and a beta of 0.47. NBT Bancorp Inc. has a 1 year low of $39.19 and a 1 year high of $46.92. The business has a 50-day moving average of $43.32 and a 200-day moving average of $42.99. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The company had revenue of $184.48 million for the quarter, compared to analyst estimates of $185.36 million. On average, equities analysts anticipate that NBT Bancorp Inc. will post 4.15 EPS for the current year.

Insider Activity

In related news, EVP Amy Wiles sold 4,435 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $45.72, for a total value of $202,768.20. Following the completion of the transaction, the executive vice president directly owned 21,500 shares in the company, valued at approximately $982,980. The trade was a 17.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NBTB shares. Brean Capital lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Janney Montgomery Scott lowered NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Hovde Group decreased their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research report on Monday, April 27th. Weiss Ratings upgraded NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Piper Sandler began coverage on NBT Bancorp in a research report on Monday, March 16th. They set an “overweight” rating and a $50.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.50.

NBT Bancorp Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.