Stevens Capital Management LP acquired a new position in NBT Bancorp Inc. (NASDAQ:NBTB) during the third quarter, according to its most recent filing with the SEC. The firm acquired 10,469 shares of the bank’s stock, valued at approximately $384,000.
Other hedge funds have also modified their holdings of the company. Bank of Montreal Can grew its position in shares of NBT Bancorp by 37.2% in the 2nd quarter. Bank of Montreal Can now owns 4,021 shares of the bank’s stock worth $149,000 after buying an additional 1,090 shares during the last quarter. Biondo Investment Advisors LLC bought a new stake in shares of NBT Bancorp in the 2nd quarter worth approximately $201,000. National Planning Corp bought a new stake in shares of NBT Bancorp in the 2nd quarter worth approximately $219,000. Amalgamated Bank grew its position in shares of NBT Bancorp by 1.1% in the 2nd quarter. Amalgamated Bank now owns 5,814 shares of the bank’s stock worth $215,000 after buying an additional 66 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of NBT Bancorp by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,867 shares of the bank’s stock worth $217,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.
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In other NBT Bancorp news, Director V Daniel Robinson II sold 15,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $38.76, for a total value of $581,400.00. Following the sale, the director now directly owns 10,141 shares of the company’s stock, valued at $393,065.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 65,000 shares of company stock worth $2,509,900 over the last three months. Corporate insiders own 2.83% of the company’s stock.
A number of equities research analysts have recently weighed in on NBTB shares. Piper Jaffray Companies reiterated a “hold” rating and issued a $35.00 price objective on shares of NBT Bancorp in a research report on Sunday, September 17th. Zacks Investment Research lowered NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, September 2nd. Boenning Scattergood upgraded NBT Bancorp from an “under perform” rating to a “neutral” rating in a research report on Tuesday, August 15th. Keefe, Bruyette & Woods restated a “hold” rating and set a $38.00 price target on shares of NBT Bancorp in a research report on Tuesday, October 3rd. Finally, BidaskClub lowered NBT Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.67.
Shares of NBT Bancorp Inc. (NASDAQ NBTB) opened at $36.99 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.20. NBT Bancorp Inc. has a 1-year low of $31.28 and a 1-year high of $42.56. The company has a market capitalization of $1,610.47, a price-to-earnings ratio of 19.27 and a beta of 0.90.
NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Tuesday, October 24th. The bank reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. NBT Bancorp had a return on equity of 9.01% and a net margin of 20.02%. The business had revenue of $102.71 million for the quarter, compared to the consensus estimate of $101.31 million. During the same period in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. sell-side analysts anticipate that NBT Bancorp Inc. will post 2 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, November 30th. NBT Bancorp’s dividend payout ratio (DPR) is 47.92%.
NBT Bancorp declared that its board has authorized a stock buyback program on Monday, October 23rd that allows the company to repurchase 1,000,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
NBT Bancorp Profile
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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