ProShare Advisors LLC Sells 2,186 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

ProShare Advisors LLC decreased its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 23.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,082 shares of the bank’s stock after selling 2,186 shares during the period. ProShare Advisors LLC’s holdings in NBT Bancorp were worth $273,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Register Financial Advisors LLC purchased a new stake in shares of NBT Bancorp in the 1st quarter worth $27,000. SG Americas Securities LLC purchased a new stake in NBT Bancorp in the first quarter worth about $178,000. Union Savings Bank grew its holdings in NBT Bancorp by 4,075.0% during the 1st quarter. Union Savings Bank now owns 4,843 shares of the bank’s stock worth $178,000 after acquiring an additional 4,727 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in NBT Bancorp during the 1st quarter valued at about $332,000. Finally, Inspire Investing LLC increased its position in NBT Bancorp by 6.9% during the 1st quarter. Inspire Investing LLC now owns 9,759 shares of the bank’s stock valued at $358,000 after purchasing an additional 634 shares during the period. Institutional investors own 58.46% of the company’s stock.

Insider Buying and Selling at NBT Bancorp

In other news, Director V Daniel Robinson II sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total transaction of $882,000.00. Following the sale, the director now directly owns 517,558 shares of the company’s stock, valued at $22,824,307.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the sale, the director now owns 517,558 shares of the company’s stock, valued at $22,824,307.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amy Wiles sold 556 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $25,020.00. Following the completion of the transaction, the executive vice president now owns 28,909 shares in the company, valued at approximately $1,300,905. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,556 shares of company stock worth $4,527,790. 3.32% of the stock is owned by corporate insiders.

NBT Bancorp Price Performance

NASDAQ NBTB opened at $42.75 on Friday. The firm’s fifty day simple moving average is $45.93 and its two-hundred day simple moving average is $40.33. The firm has a market capitalization of $2.02 billion, a P/E ratio of 16.51 and a beta of 0.50. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 12-month low of $30.35 and a 12-month high of $50.83.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, July 22nd. The bank reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). The business had revenue of $194.00 million for the quarter, compared to analyst estimates of $139.02 million. NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. During the same period in the prior year, the company earned $0.80 earnings per share. Analysts forecast that NBT Bancorp Inc. will post 2.86 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.18%. The ex-dividend date was Friday, August 30th. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.32. NBT Bancorp’s payout ratio is currently 52.51%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NBTB. Stephens reiterated an “equal weight” rating and set a $49.00 price objective on shares of NBT Bancorp in a research note on Tuesday, September 10th. Raymond James cut NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.60.

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 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.