Chicago Equity Partners LLC lessened its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 67.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,220 shares of the bank’s stock after selling 17,070 shares during the period. Chicago Equity Partners LLC’s holdings in NBT Bancorp were worth $302,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in NBTB. OppenheimerFunds Inc. grew its holdings in shares of NBT Bancorp by 52.1% during the first quarter. OppenheimerFunds Inc. now owns 8,273 shares of the bank’s stock worth $307,000 after purchasing an additional 2,834 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of NBT Bancorp by 2.6% during the first quarter. Teachers Advisors LLC now owns 72,163 shares of the bank’s stock valued at $2,675,000 after acquiring an additional 1,824 shares during the period. Vanguard Group Inc. lifted its stake in shares of NBT Bancorp by 7.4% during the first quarter. Vanguard Group Inc. now owns 4,067,362 shares of the bank’s stock valued at $150,777,000 after acquiring an additional 279,331 shares during the period. Geode Capital Management LLC lifted its stake in shares of NBT Bancorp by 0.8% during the first quarter. Geode Capital Management LLC now owns 398,528 shares of the bank’s stock valued at $14,773,000 after acquiring an additional 3,262 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of NBT Bancorp by 2.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 216,514 shares of the bank’s stock valued at $8,027,000 after acquiring an additional 4,758 shares during the period. Institutional investors own 49.45% of the company’s stock.
In other NBT Bancorp news, Director V Daniel Robinson II sold 15,000 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $38.76, for a total value of $581,400.00. Following the transaction, the director now owns 10,141 shares of the company’s stock, valued at $393,065.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 65,000 shares of company stock worth $2,509,900 in the last three months. Insiders own 3.07% of the company’s stock.
Shares of NBT Bancorp Inc. (NBTB) traded up $0.19 on Monday, hitting $38.92. The stock had a trading volume of 306,018 shares, compared to its average volume of 117,770. NBT Bancorp Inc. has a twelve month low of $31.28 and a twelve month high of $42.56. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1,686.21, a price-to-earnings ratio of 20.17 and a beta of 0.89.
NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Tuesday, October 24th. The bank reported $0.52 earnings per share for the quarter, beating the 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 firm had revenue of $102.71 million for the quarter, compared to analyst estimates of $101.31 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. equities analysts predict that NBT Bancorp Inc. will post 2 EPS for the current fiscal year.
NBT Bancorp declared that its board has authorized a stock repurchase plan on Monday, October 23rd that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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 paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, November 30th. NBT Bancorp’s payout ratio is 47.92%.
NBTB has been the topic of several research reports. Boenning Scattergood raised NBT Bancorp from an “under perform” rating to a “neutral” rating in a research note on Tuesday, August 15th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $35.00 price target on shares of NBT Bancorp in a research note on Sunday, September 17th. Zacks Investment Research raised NBT Bancorp from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Tuesday, September 5th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.00 price target on shares of NBT Bancorp in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.67.
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NBT Bancorp Company 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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