Naples Money Management LLC Makes New Investment in NBT Bancorp Inc. (NASDAQ:NBTB)

Naples Money Management LLC bought a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,724 shares of the bank’s stock, valued at approximately $156,000.

A number of other institutional investors have also recently modified their holdings of NBTB. Tandem Investment Advisors Inc. acquired a new position in NBT Bancorp in the fourth quarter valued at about $376,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of NBT Bancorp by 20.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,175 shares of the bank’s stock valued at $510,000 after buying an additional 2,076 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of NBT Bancorp in the 4th quarter valued at approximately $989,000. Cook Wealth Management Group LLC bought a new stake in shares of NBT Bancorp during the 4th quarter worth approximately $454,000. Finally, Ascent Wealth Partners LLC acquired a new stake in shares of NBT Bancorp during the 4th quarter worth approximately $204,000. 58.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NBTB has been the subject of several research analyst reports. Piper Sandler lowered their price objective on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. Raymond James boosted their price target on NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Stephens raised NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a research note on Wednesday, February 14th. Keefe, Bruyette & Woods decreased their target price on NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating on the stock in a research report on Thursday, January 25th. Finally, Janney Montgomery Scott raised shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.60.

NBT Bancorp Price Performance

NBTB traded up $1.32 on Friday, reaching $34.61. The stock had a trading volume of 180,126 shares, compared to its average volume of 209,706. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 13.01 and a beta of 0.51. NBT Bancorp Inc. has a fifty-two week low of $27.52 and a fifty-two week high of $43.77. The firm has a 50-day moving average of $34.72 and a 200-day moving average of $36.12.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.02). NBT Bancorp had a net margin of 17.86% and a return on equity of 11.10%. The firm had revenue of $137.66 million during the quarter, compared to analyst estimates of $138.87 million. As a group, sell-side analysts anticipate that NBT Bancorp Inc. will post 2.89 EPS for the current year.

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.70%. NBT Bancorp’s dividend payout ratio (DPR) is presently 48.12%.

Insider Buying and Selling

In related news, CFO Scott Allen Kingsley bought 1,000 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were purchased at an average cost of $36.80 per share, with a total value of $36,800.00. Following the acquisition, the chief financial officer now owns 25,513 shares of the company’s stock, valued at $938,878.40. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Scott Allen Kingsley acquired 1,000 shares of the stock in a transaction dated Thursday, January 25th. The stock was bought at an average cost of $36.80 per share, for a total transaction of $36,800.00. Following the completion of the transaction, the chief financial officer now directly owns 25,513 shares of the company’s stock, valued at $938,878.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lowell A. Seifter sold 3,230 shares of NBT Bancorp stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $36.96, for a total value of $119,380.80. Following the completion of the transaction, the director now directly owns 49,132 shares in the company, valued at $1,815,918.72. The disclosure for this sale can be found here. Insiders have sold a total of 8,641 shares of company stock valued at $319,806 over the last 90 days. 3.32% of the stock is owned by insiders.

NBT Bancorp Company 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 indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.