NBT Bancorp Inc. $NBTB Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 84.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,830 shares of the bank’s stock after selling 59,786 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in NBT Bancorp were worth $461,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Millennium Management LLC increased its stake in shares of NBT Bancorp by 564.1% during the third quarter. Millennium Management LLC now owns 248,050 shares of the bank’s stock worth $10,359,000 after buying an additional 210,699 shares during the period. State Street Corp lifted its stake in NBT Bancorp by 7.8% in the second quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock worth $105,177,000 after acquiring an additional 182,793 shares during the last quarter. Nuveen LLC lifted its stake in NBT Bancorp by 171.0% in the fourth quarter. Nuveen LLC now owns 286,107 shares of the bank’s stock worth $11,879,000 after acquiring an additional 180,528 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in NBT Bancorp by 63.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock worth $18,741,000 after acquiring an additional 174,639 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in NBT Bancorp during the 3rd quarter worth approximately $4,886,000. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Stock Up 0.1%

NBTB opened at $50.64 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp Inc. has a one year low of $39.19 and a one year high of $51.09. The business’s 50-day simple moving average is $47.20 and its 200-day simple moving average is $44.86. The stock has a market capitalization of $2.63 billion, a P/E ratio of 14.43 and a beta of 0.48.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The business had revenue of $184.48 million for the quarter, compared to analysts’ expectations of $185.35 million. Analysts anticipate that NBT Bancorp Inc. will post 4.14 EPS for the current year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.37 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.48 dividend on an annualized basis and a yield of 2.9%. NBT Bancorp’s payout ratio is currently 42.17%.

Analysts Set New Price Targets

NBTB has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on shares of NBT Bancorp from $50.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. DA Davidson reaffirmed a “buy” rating and set a $52.00 price objective on shares of NBT Bancorp in a research report on Monday, April 27th. Hovde Group lowered their target price on shares of 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. Finally, Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.50.

Insiders Place Their Bets

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

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.