392,913 Shares in NBT Bancorp Inc. $NBTB Purchased by PL Capital Advisors LLC

PL Capital Advisors LLC acquired a new position in NBT Bancorp Inc. (NASDAQ:NBTB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 392,913 shares of the bank’s stock, valued at approximately $16,326,000. NBT Bancorp accounts for approximately 5.4% of PL Capital Advisors LLC’s investment portfolio, making the stock its 8th biggest position. PL Capital Advisors LLC owned 0.83% of NBT Bancorp as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in NBT Bancorp by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 234,849 shares of the bank’s stock worth $10,075,000 after acquiring an additional 6,150 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new position in NBT Bancorp in the 2nd quarter worth about $247,000. Members Advisory Group LLC bought a new position in NBT Bancorp in the 2nd quarter worth about $1,393,000. Entropy Technologies LP bought a new position in NBT Bancorp in the 1st quarter worth about $309,000. Finally, Picton Mahoney Asset Management bought a new position in NBT Bancorp in the 1st quarter worth about $278,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. DA Davidson downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Piper Sandler set a $47.00 price target on shares of NBT Bancorp and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NBT Bancorp in a research report on Wednesday, October 8th. Wall Street Zen raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Janney Montgomery Scott raised shares of NBT Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Insider Buying and Selling

In other news, Director Timothy E. Delaney bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average price of $40.50 per share, with a total value of $81,000.00. Following the completion of the transaction, the director directly owned 41,885 shares of the company’s stock, valued at approximately $1,696,342.50. The trade was a 5.01% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David J. Nasca sold 19,603 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $43.42, for a total transaction of $851,162.26. Following the sale, the director directly owned 82,910 shares of the company’s stock, valued at $3,599,952.20. The trade was a 19.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.03% of the company’s stock.

NBT Bancorp Trading Up 0.8%

NASDAQ:NBTB opened at $40.81 on Tuesday. NBT Bancorp Inc. has a 52 week low of $37.31 and a 52 week high of $52.44. The firm has a 50 day moving average of $42.16 and a 200 day moving average of $42.24. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 13.60 and a beta of 0.54.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, October 27th. The bank reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.08. NBT Bancorp had a net margin of 17.24% and a return on equity of 10.35%. The company had revenue of $186.07 million during the quarter, compared to analysts’ expectations of $183.87 million. As a group, sell-side analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.48 dividend on an annualized basis and a yield of 3.6%. NBT Bancorp’s dividend payout ratio is presently 49.33%.

NBT Bancorp Company 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.