Tudor Investment Corp ET AL Makes New $4.89 Million Investment in NBT Bancorp Inc. $NBTB

Tudor Investment Corp ET AL purchased a new position in NBT Bancorp Inc. (NASDAQ:NBTB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 117,013 shares of the bank’s stock, valued at approximately $4,886,000.

Several other hedge funds have also recently added to or reduced their stakes in NBTB. Royal Bank of Canada grew its position in NBT Bancorp by 22.3% in the first quarter. Royal Bank of Canada now owns 40,303 shares of the bank’s stock worth $1,729,000 after buying an additional 7,349 shares during the last quarter. AQR Capital Management LLC grew its position in NBT Bancorp by 45.0% in the first quarter. AQR Capital Management LLC now owns 13,630 shares of the bank’s stock worth $585,000 after buying an additional 4,231 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NBT Bancorp by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,388 shares of the bank’s stock worth $1,175,000 after buying an additional 1,197 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in NBT Bancorp by 15.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 165,550 shares of the bank’s stock worth $7,102,000 after buying an additional 22,655 shares during the last quarter. Finally, Jane Street Group LLC grew its position in NBT Bancorp by 1,188.4% in the first quarter. Jane Street Group LLC now owns 88,284 shares of the bank’s stock worth $3,787,000 after buying an additional 81,432 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. DA Davidson assumed coverage on shares of NBT Bancorp in a research report on Wednesday, February 25th. They set a “buy” rating and a $54.00 price objective on the stock. Weiss Ratings upgraded shares of NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Piper Sandler assumed coverage on shares of NBT Bancorp in a research report on Monday, March 16th. They set an “overweight” rating and a $50.00 price objective on the stock. Brean Capital cut shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Janney Montgomery Scott cut shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, NBT Bancorp has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Insiders Place Their Bets

In related news, Director Timothy E. Delaney bought 22,730 shares of the firm’s stock in a transaction on Wednesday, January 28th. The stock was bought at an average price of $42.97 per share, with a total value of $976,708.10. Following the purchase, the director directly owned 74,615 shares of the company’s stock, valued at approximately $3,206,206.55. This represents a 43.81% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Amy Wiles sold 4,435 shares of NBT Bancorp stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $45.72, for a total transaction of $202,768.20. Following the sale, the executive vice president directly owned 21,500 shares of the company’s stock, valued at $982,980. This trade represents a 17.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.03% of the company’s stock.

NBT Bancorp Trading Up 2.3%

Shares of NASDAQ:NBTB opened at $44.98 on Thursday. The firm has a fifty day moving average of $43.52 and a two-hundred day moving average of $42.52. The firm has a market capitalization of $2.35 billion, a P/E ratio of 13.63 and a beta of 0.47. NBT Bancorp Inc. has a 12-month low of $37.61 and a 12-month high of $46.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, January 26th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $185.14 million during 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, equities analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.3%. NBT Bancorp’s dividend payout ratio (DPR) is 44.85%.

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.