NBT Bancorp Inc. $NBTB Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC increased its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 34.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,314 shares of the bank’s stock after purchasing an additional 50,079 shares during the quarter. ProShare Advisors LLC owned approximately 0.38% of NBT Bancorp worth $9,897,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in NBT Bancorp in the second quarter valued at about $32,000. Bessemer Group Inc. lifted its position in shares of NBT Bancorp by 63.8% during the first quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock valued at $35,000 after buying an additional 324 shares during the last quarter. Western Wealth Management LLC purchased a new stake in shares of NBT Bancorp during the first quarter valued at about $37,000. Nykredit A S bought a new stake in shares of NBT Bancorp in the 2nd quarter valued at about $45,000. Finally, Global Retirement Partners LLC bought a new stake in shares of NBT Bancorp in the 2nd quarter valued at about $49,000. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Trading Down 1.6%

NBT Bancorp stock opened at $52.61 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $2.73 billion, a PE ratio of 12.91 and a beta of 0.49. The stock has a 50-day moving average of $51.39 and a two-hundred day moving average of $47.79. NBT Bancorp Inc. has a one year low of $39.44 and a one year high of $54.50.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Tuesday, October 27th. The bank reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.02. NBT Bancorp had a return on equity of 11.28% and a net margin of 22.87%. The business had revenue of $195.03 million for the quarter, compared to analyst estimates of $193.83 million. On average, research analysts anticipate that NBT Bancorp Inc. will post 4.19 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, December 1st. NBT Bancorp’s payout ratio is currently 38.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NBTB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NBT Bancorp in a research report on Monday, October 19th. Piper Sandler reissued an “overweight” rating and set a $61.00 target price (down from $62.00) on shares of NBT Bancorp in a research report on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $55.00 target price (down from $58.00) on shares of NBT Bancorp in a research note on Friday, October 30th. Wall Street Zen raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Finally, Stephens lowered shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $52.00 to $55.00 in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, NBT Bancorp currently has an average rating of “Hold” and a consensus target price of $55.90.

NBT Bancorp Company Profile

NBT Bancorp Inc is the bank holding company for NBT Bank, a community banking institution headquartered in Norwich, New York. Through NBT Bank and its subsidiaries, the company provides banking, lending, investment, insurance and financial services to consumers, businesses, nonprofit organizations and municipalities.

NBT Bank offers checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, business lending, cash-management services and agricultural financing.