Vanguard Group Inc. Grows Stake in NBT Bancorp Inc. (NASDAQ:NBTB)

Vanguard Group Inc. boosted its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 5,642,447 shares of the bank’s stock after buying an additional 126,572 shares during the quarter. Vanguard Group Inc. owned about 0.12% of NBT Bancorp worth $236,475,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Deutsche Bank AG boosted its position in shares of NBT Bancorp by 28.0% in the 3rd quarter. Deutsche Bank AG now owns 23,071 shares of the bank’s stock worth $731,000 after buying an additional 5,046 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of NBT Bancorp by 5.7% in the third quarter. Northern Trust Corp now owns 741,141 shares of the bank’s stock valued at $23,487,000 after purchasing an additional 39,912 shares in the last quarter. Resources Management Corp CT ADV grew its position in shares of NBT Bancorp by 11.3% in the third quarter. Resources Management Corp CT ADV now owns 16,813 shares of the bank’s stock valued at $533,000 after purchasing an additional 1,713 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of NBT Bancorp during the 3rd quarter worth approximately $676,000. Finally, American Century Companies Inc. raised its position in shares of NBT Bancorp by 9.5% during the 3rd quarter. American Century Companies Inc. now owns 364,862 shares of the bank’s stock worth $11,562,000 after purchasing an additional 31,684 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Janney Montgomery Scott upgraded NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Thursday, March 21st. Stephens reaffirmed an “overweight” rating and set a $42.00 price objective on shares of NBT Bancorp in a research note on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods cut their target price on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, NBT Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $41.20.

Insider Buying and Selling

In related news, EVP Sarah A. Halliday sold 1,325 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $35.66, for a total transaction of $47,249.50. Following the completion of the transaction, the executive vice president now owns 32,402 shares of the company’s stock, valued at $1,155,455.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.32% of the company’s stock.

NBT Bancorp Trading Down 1.3 %

Shares of NBT Bancorp stock opened at $38.11 on Tuesday. NBT Bancorp Inc. has a fifty-two week low of $30.31 and a fifty-two week high of $43.77. The business’s fifty day moving average is $36.69 and its two-hundred day moving average is $36.72. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.80 billion, a PE ratio of 14.71 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Tuesday, April 23rd. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. NBT Bancorp had a return on equity of 10.20% and a net margin of 16.71%. The firm had revenue of $192.33 million during the quarter, compared to analyst estimates of $135.01 million. During the same period in the prior year, the firm posted $0.88 earnings per share. Analysts anticipate that NBT Bancorp Inc. will post 2.84 earnings per share for the current year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.32 per share. The ex-dividend date was Friday, May 31st. This represents a $1.28 annualized dividend and a dividend yield of 3.36%. NBT Bancorp’s payout ratio is currently 49.42%.

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.