Quantbot Technologies LP Buys New Shares in NBT Bancorp Inc. $NBTB

Quantbot Technologies LP purchased a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,904 shares of the bank’s stock, valued at approximately $581,000.

A number of other large investors have also recently added to or reduced their stakes in NBTB. State Street Corp grew its position in shares of NBT Bancorp by 7.8% in the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after acquiring an additional 182,793 shares during the period. Geode Capital Management LLC raised its holdings in shares of NBT Bancorp by 10.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,298,769 shares of the bank’s stock valued at $53,971,000 after purchasing an additional 126,718 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of NBT Bancorp by 63.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock valued at $18,741,000 after purchasing an additional 174,639 shares during the period. JPMorgan Chase & Co. raised its position in shares of NBT Bancorp by 26.7% in the third quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock valued at $13,986,000 after purchasing an additional 70,594 shares during the period. Finally, Ceredex Value Advisors LLC lifted its stake in shares of NBT Bancorp by 2.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 334,300 shares of the bank’s stock worth $13,890,000 after buying an additional 7,800 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Trading Down 1.9%

Shares of NBT Bancorp stock opened at $41.63 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a 50-day moving average of $43.90 and a 200-day moving average of $42.79. NBT Bancorp Inc. has a 52-week low of $37.31 and a 52-week high of $46.92. The stock has a market cap of $2.17 billion, a PE ratio of 12.62 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, January 26th. The bank reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. The business had revenue of $185.14 million during the quarter, compared to analysts’ expectations of $183.63 million. NBT Bancorp had a net margin of 18.67% and a return on equity of 10.86%. As a group, sell-side analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, March 2nd. NBT Bancorp’s payout ratio is presently 44.85%.

Insider Buying and Selling

In related news, Director Timothy E. Delaney purchased 22,730 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The stock was acquired at an average cost of $42.97 per share, for a total transaction of $976,708.10. Following the completion of the purchase, the director owned 74,615 shares in the company, valued at approximately $3,206,206.55. This represents a 43.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Amy Wiles sold 4,435 shares of the 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 sale, the executive vice president directly owned 21,500 shares in the company, valued at $982,980. This represents a 17.10% decrease in their position. The SEC filing for this sale provides additional information. 3.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NBTB has been the topic of a number of research reports. Weiss Ratings upgraded shares of NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Brean Capital downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Janney Montgomery Scott cut NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. Finally, DA Davidson started coverage on NBT Bancorp in a research report on Wednesday, February 25th. They issued a “buy” rating and a $54.00 target price on the stock. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.33.

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.