Public Sector Pension Investment Board Has $8.53 Million Position in NBT Bancorp Inc. $NBTB

Public Sector Pension Investment Board increased its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 14.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 204,320 shares of the bank’s stock after purchasing an additional 25,924 shares during the period. Public Sector Pension Investment Board owned approximately 0.39% of NBT Bancorp worth $8,532,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after buying an additional 609 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of NBT Bancorp in the second quarter worth $33,000. Flagship Wealth Advisors LLC acquired a new stake in shares of NBT Bancorp in the third quarter worth $42,000. Cloud Capital Management LLC bought a new position in NBT Bancorp during the third quarter worth $66,000. Finally, Farther Finance Advisors LLC raised its stake in NBT Bancorp by 50.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,163 shares of the bank’s stock valued at $90,000 after purchasing an additional 722 shares during the last quarter. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Trading Up 0.6%

Shares of NBT Bancorp stock opened at $45.82 on Tuesday. NBT Bancorp Inc. has a 52-week low of $37.31 and a 52-week high of $48.65. The firm has a market capitalization of $2.40 billion, a PE ratio of 13.88 and a beta of 0.51. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The company’s fifty day moving average price is $43.79 and its two-hundred day moving average price is $42.58.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, January 26th. The bank reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.06. The business had revenue of $185.14 million for the quarter, compared to analyst estimates of $183.63 million. NBT Bancorp had a net margin of 18.67% and a return on equity of 10.86%. On average, analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, March 2nd. NBT Bancorp’s dividend payout ratio is currently 44.85%.

Insider Activity

In related news, Director Timothy E. Delaney bought 22,730 shares of the company’s stock in a transaction dated Wednesday, January 28th. The stock was acquired at an average cost of $42.97 per share, with a total value of $976,708.10. Following the acquisition, the director owned 74,615 shares in the company, valued at approximately $3,206,206.55. This represents a 43.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NBTB. Janney Montgomery Scott raised shares of NBT Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. DA Davidson lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NBT Bancorp in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, NBT Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

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.