Legal & General Group Plc Grows Holdings in NBT Bancorp Inc. (NBTB)
Legal & General Group Plc raised its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,318 shares of the bank’s stock after purchasing an additional 5,275 shares during the quarter. Legal & General Group Plc owned 0.22% of NBT Bancorp worth $3,605,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in NBTB. BlackRock Inc. grew its holdings in shares of NBT Bancorp by 6.1% during the second quarter. BlackRock Inc. now owns 6,022,871 shares of the bank’s stock worth $229,772,000 after buying an additional 344,106 shares in the last quarter. Pinebridge Investments L.P. grew its holdings in shares of NBT Bancorp by 7.1% during the second quarter. Pinebridge Investments L.P. now owns 81,660 shares of the bank’s stock worth $3,115,000 after buying an additional 5,445 shares in the last quarter. WBI Investments Inc. purchased a new stake in shares of NBT Bancorp during the second quarter worth $1,082,000. Schwab Charles Investment Management Inc. grew its holdings in shares of NBT Bancorp by 5.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 310,296 shares of the bank’s stock worth $11,838,000 after buying an additional 15,552 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of NBT Bancorp during the second quarter worth $481,000. Institutional investors and hedge funds own 52.27% of the company’s stock.
NBT Bancorp stock opened at $38.68 on Wednesday. NBT Bancorp Inc. has a 52-week low of $34.05 and a 52-week high of $41.88. The firm has a market cap of $1.74 billion, a PE ratio of 19.76 and a beta of 0.87. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Thursday, August 30th. NBT Bancorp’s dividend payout ratio is currently 50.76%.
In related news, EVP Joseph R. Stagliano sold 5,500 shares of the company’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $41.45, for a total value of $227,975.00. Following the completion of the sale, the executive vice president now owns 59,737 shares of the company’s stock, valued at $2,476,098.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sarah A. Halliday acquired 850 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was purchased at an average cost of $39.18 per share, with a total value of $33,303.00. Following the acquisition, the executive vice president now directly owns 5,712 shares of the company’s stock, valued at approximately $223,796.16. The disclosure for this purchase can be found here. Corporate insiders own 3.23% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of NBT Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Boenning Scattergood reaffirmed a “neutral” rating on shares of NBT Bancorp in a report on Friday, June 29th. Finally, Zacks Investment Research lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $41.83.
NBT Bancorp 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 commercial, commercial real estate, agricultural, agricultural real estate, and business banking loans; consumer loans, such as indirect, home equity, and direct loans; and residential real estate mortgages, as well as real estate construction and development loans.
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