BlackRock Inc. grew its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,678,765 shares of the bank’s stock after purchasing an additional 68,838 shares during the period. BlackRock Inc. owned approximately 0.13% of NBT Bancorp worth $201,482,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp increased its position in NBT Bancorp by 0.5% during the 1st quarter. Northern Trust Corp now owns 1,098,780 shares of the bank’s stock worth $38,985,000 after purchasing an additional 5,103 shares during the period. Stevens Capital Management LP purchased a new stake in shares of NBT Bancorp during the 1st quarter worth approximately $363,000. Schwab Charles Investment Management Inc. boosted its stake in shares of NBT Bancorp by 1.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 294,744 shares of the bank’s stock worth $10,458,000 after acquiring an additional 3,216 shares in the last quarter. Swiss National Bank boosted its stake in shares of NBT Bancorp by 3.4% during the 1st quarter. Swiss National Bank now owns 75,800 shares of the bank’s stock worth $2,689,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of NBT Bancorp by 43.3% during the 1st quarter. Victory Capital Management Inc. now owns 10,434 shares of the bank’s stock worth $370,000 after acquiring an additional 3,152 shares in the last quarter. Institutional investors own 51.19% of the company’s stock.
Shares of NASDAQ:NBTB opened at $39.30 on Tuesday. The company has a market cap of $1.70 billion, a PE ratio of 19.95 and a beta of 0.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.84 and a current ratio of 0.84. NBT Bancorp Inc. has a 12 month low of $31.28 and a 12 month high of $40.47.
NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, April 23rd. The bank reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $104.14 million. NBT Bancorp had a return on equity of 9.69% and a net margin of 19.99%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 EPS. analysts expect that NBT Bancorp Inc. will post 2.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $1.00 dividend on an annualized basis and a yield of 2.54%. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.23. NBT Bancorp’s dividend payout ratio is presently 50.76%.
NBTB has been the topic of several research analyst reports. BidaskClub lowered NBT Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, May 12th. Zacks Investment Research raised NBT Bancorp from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Saturday, April 28th. Boenning Scattergood reissued a “hold” rating on shares of NBT Bancorp in a research note on Wednesday, April 25th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $41.50 price target on shares of NBT Bancorp in a research note on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $39.13.
NBT Bancorp Profile
NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises commercial, commercial real estate, agricultural, agricultural real estate, and business banking loans; consumer loans, such as indirect, home equity, and direct loans; and residential real estate mortgages, as well as real estate construction and development loans.
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