Shelter Rock Management LLC Invests $505,000 in NBT Bancorp Inc. $NBTB

Shelter Rock Management LLC bought a new position in NBT Bancorp Inc. (NASDAQ:NBTB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,163 shares of the bank’s stock, valued at approximately $505,000. NBT Bancorp comprises 0.5% of Shelter Rock Management LLC’s investment portfolio, making the stock its 25th largest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in NBT Bancorp by 195.7% in the fourth quarter. SG Americas Securities LLC now owns 71,852 shares of the bank’s stock valued at $2,983,000 after acquiring an additional 47,550 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in NBT Bancorp in the third quarter valued at $4,886,000. JPMorgan Chase & Co. boosted its holdings in NBT Bancorp by 26.7% in the third quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock valued at $13,986,000 after acquiring an additional 70,594 shares in the last quarter. Savant Capital LLC boosted its holdings in NBT Bancorp by 168.4% in the third quarter. Savant Capital LLC now owns 71,060 shares of the bank’s stock valued at $2,967,000 after acquiring an additional 44,585 shares in the last quarter. Finally, Financial Planning Hawaii Inc. bought a new stake in NBT Bancorp in the fourth quarter valued at $641,000. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $45.93 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.39 billion, a P/E ratio of 13.09 and a beta of 0.47. The business has a fifty day simple moving average of $43.84 and a two-hundred day simple moving average of $43.31. NBT Bancorp Inc. has a 12 month low of $39.19 and a 12 month high of $46.92.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). The firm had revenue of $184.48 million for the quarter, compared to analysts’ expectations of $185.36 million. NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. On average, equities analysts forecast that NBT Bancorp Inc. will post 4.15 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.48 annualized dividend and a yield of 3.2%. NBT Bancorp’s dividend payout ratio (DPR) is currently 42.17%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NBTB. Piper Sandler began coverage on shares of NBT Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $50.00 price target on the stock. Janney Montgomery Scott cut shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. DA Davidson reiterated a “buy” rating and issued a $52.00 price target on shares of NBT Bancorp in a report on Monday, April 27th. Hovde Group cut their price target on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a report on Monday, April 27th. Finally, Brean Capital cut shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. One equities 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 stock. According to data from MarketBeat, NBT Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.

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.