13,829 Shares in NBT Bancorp Inc. $NBTB Purchased by Aigen Investment Management LP

Aigen Investment Management LP acquired a new position in NBT Bancorp Inc. (NASDAQ:NBTB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,829 shares of the bank’s stock, valued at approximately $574,000.

Several other large investors have also added to or reduced their stakes in NBTB. EverSource Wealth Advisors LLC boosted its stake in NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after purchasing an additional 609 shares during the period. Larson Financial Group LLC boosted its stake in NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after purchasing an additional 799 shares during the period. Global Retirement Partners LLC boosted its stake in NBT Bancorp by 62.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock worth $43,000 after purchasing an additional 399 shares during the period. Allworth Financial LP bought a new position in NBT Bancorp in the 3rd quarter worth about $46,000. Finally, Quadrant Capital Group LLC bought a new position in NBT Bancorp in the 4th quarter worth about $64,000. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NBTB opened at $47.41 on Tuesday. The company has a market cap of $2.47 billion, a PE ratio of 13.51 and a beta of 0.49. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $45.36 and a 200-day moving average price of $43.96. NBT Bancorp Inc. has a 12-month low of $39.19 and a 12-month high of $48.81.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). The firm had revenue of $184.48 million for the quarter, compared to analysts’ expectations of $185.36 million. NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. As a group, equities analysts forecast that NBT Bancorp Inc. will post 4.15 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, June 1st. NBT Bancorp’s dividend payout ratio (DPR) is currently 42.17%.

Wall Street Analysts Forecast Growth

NBTB has been the subject of several analyst reports. Hovde Group cut their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research note on Monday, April 27th. Weiss Ratings upgraded NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. DA Davidson restated a “buy” rating and issued a $52.00 target price on shares of NBT Bancorp in a research note on Monday, April 27th. Piper Sandler initiated coverage on NBT Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $50.00 target price for the company. Finally, Brean Capital downgraded NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.50.

Insider Transactions at NBT Bancorp

In related news, Director Heidi M. Hoeller sold 2,100 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $48.03, for a total transaction of $100,863.00. Following the transaction, the director directly owned 11,560 shares of the company’s stock, valued at approximately $555,226.80. This trade represents a 15.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ruth H. Mahoney sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $46.60, for a total value of $233,000.00. Following the transaction, the executive vice president directly owned 16,428 shares in the company, valued at approximately $765,544.80. This represents a 23.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.99% of the company’s stock.

About NBT Bancorp

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.