NBT Bancorp Inc. $NBTB Stock Position Decreased by Sei Investments Co.

Sei Investments Co. decreased its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 49.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,310 shares of the bank’s stock after selling 10,997 shares during the quarter. Sei Investments Co.’s holdings in NBT Bancorp were worth $482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp grew its holdings in shares of NBT Bancorp by 7.8% during the second quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after purchasing an additional 182,793 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of NBT Bancorp by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,330,975 shares of the bank’s stock worth $99,252,000 after purchasing an additional 30,141 shares during the period. Victory Capital Management Inc. raised its position in shares of NBT Bancorp by 2.0% during the 4th quarter. Victory Capital Management Inc. now owns 663,092 shares of the bank’s stock worth $27,532,000 after purchasing an additional 12,967 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of NBT Bancorp by 63.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock worth $18,741,000 after purchasing an additional 174,639 shares during the last quarter. Finally, Nuveen LLC lifted its holdings in shares of NBT Bancorp by 171.0% in the 4th quarter. Nuveen LLC now owns 286,107 shares of the bank’s stock worth $11,879,000 after purchasing an additional 180,528 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NBTB stock opened at $53.56 on Friday. NBT Bancorp Inc. has a 12-month low of $39.19 and a 12-month high of $54.50. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 13.10 and a beta of 0.48. The business has a 50 day simple moving average of $50.55 and a 200 day simple moving average of $46.44. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, July 27th. The bank reported $1.01 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.01). NBT Bancorp had a net margin of 22.58% and a return on equity of 11.27%. The business had revenue of $186.69 million during the quarter, compared to analyst estimates of $188.81 million. On average, equities research analysts anticipate that NBT Bancorp Inc. will post 4.15 EPS for the current year.

NBT Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.0%. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, September 1st. NBT Bancorp’s dividend payout ratio is 36.19%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $54.00 price objective (up from $52.00) on shares of NBT Bancorp in a research note on Monday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of NBT Bancorp in a research note on Tuesday, July 21st. Stephens downgraded shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $52.00 to $55.00 in a report on Thursday, July 30th. Hovde Group lowered their price target on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research report on Monday, April 27th. Finally, Piper Sandler increased their price objective on shares of NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, NBT Bancorp currently has an average rating of “Hold” and an average target price of $54.10.

Insider Activity

In related news, EVP Ruth H. Mahoney sold 5,000 shares of NBT Bancorp 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 sale, the executive vice president directly owned 16,428 shares in the company, valued at $765,544.80. The trade was a 23.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sarah A. Halliday sold 9,000 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $54.04, for a total transaction of $486,360.00. Following the completion of the sale, the executive vice president directly owned 22,054 shares of the company’s stock, valued at $1,191,798.16. The trade was a 28.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 20,600 shares of company stock valued at $1,064,573. Company insiders own 2.99% of the company’s stock.

NBT Bancorp Company 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.