Morgan Stanley cut its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 47.8% during the first quarter, Holdings Channel reports. The firm owned 125,345 shares of the bank’s stock after selling 114,584 shares during the period. Morgan Stanley’s holdings in NBT Bancorp were worth $4,647,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in NBT Bancorp by 7.4% in the first quarter. Vanguard Group Inc. now owns 4,067,362 shares of the bank’s stock worth $150,777,000 after buying an additional 279,331 shares during the period. Bank of New York Mellon Corp raised its stake in NBT Bancorp by 28.9% in the first quarter. Bank of New York Mellon Corp now owns 796,715 shares of the bank’s stock worth $29,534,000 after buying an additional 178,423 shares during the period. Dimensional Fund Advisors LP raised its stake in NBT Bancorp by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,951,150 shares of the bank’s stock worth $72,330,000 after buying an additional 48,519 shares during the period. Chicago Equity Partners LLC acquired a new stake in NBT Bancorp during the first quarter worth about $950,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in NBT Bancorp during the first quarter worth about $665,000. 49.90% of the stock is currently owned by hedge funds and other institutional investors.

NBT Bancorp Inc. (NASDAQ NBTB) traded down 0.21% during mid-day trading on Friday, reaching $33.89. The company’s stock had a trading volume of 9,420 shares. The company has a 50 day moving average of $36.32 and a 200-day moving average of $37.97. The stock has a market cap of $1.48 billion, a PE ratio of 18.22 and a beta of 0.88. NBT Bancorp Inc. has a 52-week low of $30.28 and a 52-week high of $42.56.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, July 24th. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. NBT Bancorp had a return on equity of 8.81% and a net margin of 19.68%. The company had revenue of $99.93 million for the quarter, compared to the consensus estimate of $100.91 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities analysts forecast that NBT Bancorp Inc. will post $1.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, August 30th. NBT Bancorp’s payout ratio is 49.46%.

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A number of analysts have issued reports on NBTB shares. BidaskClub raised NBT Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research raised NBT Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, June 27th. Finally, Piper Jaffray Companies raised NBT Bancorp from an “underweight” rating to a “neutral” rating and set a $35.50 target price on the stock in a report on Thursday, June 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. NBT Bancorp currently has a consensus rating of “Hold” and an average price target of $36.75.

In other news, Director John C. Mitchell sold 1,438 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $35.48, for a total value of $51,020.24. Following the transaction, the director now owns 32,781 shares of the company’s stock, valued at $1,163,069.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Mitchell sold 1,570 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $36.27, for a total value of $56,943.90. Following the completion of the transaction, the director now directly owns 34,219 shares in the company, valued at approximately $1,241,123.13. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by corporate insiders.

NBT Bancorp Company Profile

NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.

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Institutional Ownership by Quarter for NBT Bancorp (NASDAQ:NBTB)

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