Wealth Enhancement Advisory Services LLC Has $4.63 Million Stake in NBT Bancorp Inc. $NBTB

Wealth Enhancement Advisory Services LLC increased its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,986 shares of the bank’s stock after buying an additional 12,925 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.21% of NBT Bancorp worth $4,628,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NBTB. EverSource Wealth Advisors LLC lifted its stake in NBT Bancorp by 1,645.9% in the second quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after acquiring an additional 609 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of NBT Bancorp by 13,316.7% during the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after purchasing an additional 799 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of NBT Bancorp during the 3rd quarter valued at $42,000. Allworth Financial LP bought a new position in shares of NBT Bancorp during the 3rd quarter valued at $46,000. Finally, Cloud Capital Management LLC acquired a new stake in shares of NBT Bancorp in the 3rd quarter valued at $66,000. Institutional investors own 58.46% of the company’s stock.

Insider Activity at NBT Bancorp

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

Wall Street Analyst Weigh In

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

NBT Bancorp Stock Performance

NASDAQ:NBTB opened at $42.02 on Tuesday. NBT Bancorp Inc. has a 1 year low of $37.31 and a 1 year high of $46.92. The firm’s fifty day simple moving average is $43.57 and its 200 day simple moving average is $42.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.19 billion, a PE ratio of 12.73 and a beta of 0.50.

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

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, March 2nd. NBT Bancorp’s payout ratio is currently 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.