Inspire Investing LLC Sells 712 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Inspire Investing LLC cut its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,047 shares of the bank’s stock after selling 712 shares during the period. Inspire Investing LLC’s holdings in NBT Bancorp were worth $349,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Arizona State Retirement System increased its holdings in shares of NBT Bancorp by 2.0% in the second quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock worth $509,000 after buying an additional 258 shares during the period. Louisiana State Employees Retirement System increased its stake in NBT Bancorp by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock worth $915,000 after purchasing an additional 400 shares during the period. Texas Permanent School Fund Corp lifted its position in NBT Bancorp by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 41,211 shares of the bank’s stock valued at $1,512,000 after purchasing an additional 534 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of NBT Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 9,268 shares of the bank’s stock valued at $340,000 after purchasing an additional 635 shares during the period. Finally, Register Financial Advisors LLC purchased a new position in shares of NBT Bancorp in the first quarter worth $27,000. 58.46% of the stock is owned by institutional investors.

NBT Bancorp Price Performance

NBTB stock opened at $45.02 on Tuesday. The firm has a 50-day moving average of $46.44 and a 200 day moving average of $39.90. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $2.12 billion, a P/E ratio of 17.38 and a beta of 0.50. NBT Bancorp Inc. has a 1 year low of $30.31 and a 1 year high of $50.83.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). The firm had revenue of $194.00 million for the quarter, compared to the consensus estimate of $139.02 million. NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, sell-side analysts forecast that NBT Bancorp Inc. will post 2.86 EPS for the current year.

NBT Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, August 30th. This represents a $1.36 annualized dividend and a yield of 3.02%. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. NBT Bancorp’s payout ratio is presently 52.51%.

Analyst Ratings Changes

NBTB has been the subject of several recent analyst reports. Raymond James downgraded shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Stephens reiterated an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, NBT Bancorp presently has an average rating of “Hold” and an average target price of $42.60.

Insider Buying and Selling at NBT Bancorp

In related news, Director V Daniel Robinson II sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total value of $882,000.00. Following the transaction, the director now directly owns 517,558 shares of the company’s stock, valued at approximately $22,824,307.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director V Daniel Robinson II sold 20,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total value of $882,000.00. Following the transaction, the director now directly owns 517,558 shares in the company, valued at approximately $22,824,307.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Martin Randolph Sparks sold 1,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.37, for a total value of $48,370.00. Following the sale, the executive vice president now owns 15,003 shares of the company’s stock, valued at approximately $725,695.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,556 shares of company stock valued at $4,527,790. Corporate insiders own 3.32% of the company’s stock.

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.