NBT Bank N A NY Sells 20,122 Shares of NBT Bancorp Inc. $NBTB

NBT Bank N A NY reduced its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 7.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 248,685 shares of the bank’s stock after selling 20,122 shares during the quarter. NBT Bank N A NY owned approximately 0.47% of NBT Bancorp worth $11,192,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC bought a new position in shares of NBT Bancorp during the second quarter valued at about $247,000. Members Advisory Group LLC purchased a new stake in NBT Bancorp in the 2nd quarter valued at about $1,393,000. Voya Investment Management LLC lifted its position in shares of NBT Bancorp by 28.3% during the 1st quarter. Voya Investment Management LLC now owns 80,158 shares of the bank’s stock worth $3,439,000 after buying an additional 17,677 shares in the last quarter. PL Capital Advisors LLC purchased a new position in shares of NBT Bancorp in the 2nd quarter worth approximately $16,326,000. Finally, Endeavour Capital Advisors Inc. purchased a new position in shares of NBT Bancorp in the 2nd quarter worth approximately $3,371,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NBT Bancorp

In related news, Director Timothy E. Delaney bought 10,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were purchased at an average price of $40.98 per share, for a total transaction of $409,800.00. Following the completion of the transaction, the director directly owned 51,885 shares in the company, valued at approximately $2,126,247.30. The trade was a 23.87% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NBTB. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NBT Bancorp in a research report on Monday, December 29th. Piper Sandler set a $47.00 target price on NBT Bancorp and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Janney Montgomery Scott raised shares of NBT Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, DA Davidson downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, NBT Bancorp has an average rating of “Moderate Buy” and an average price target of $51.25.

NBT Bancorp Stock Performance

Shares of NBTB opened at $43.59 on Friday. The stock’s fifty day moving average price is $42.27 and its two-hundred day moving average price is $42.30. NBT Bancorp Inc. has a 1 year low of $37.31 and a 1 year high of $49.18. The firm has a market cap of $2.28 billion, a PE ratio of 14.53 and a beta of 0.50. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, October 27th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.08. The business had revenue of $186.07 million for the quarter, compared to analysts’ expectations of $183.87 million. NBT Bancorp had a return on equity of 10.35% and a net margin of 17.24%. On average, equities research analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Monday, December 1st. NBT Bancorp’s payout ratio is currently 49.33%.

About NBT Bancorp

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.