NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 4.1% during the second quarter, Holdings Channel.com reports. The firm owned 9,967 shares of the bank’s stock after selling 426 shares during the quarter. Sei Investments Co.’s holdings in NBT Bancorp were worth $385,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of NBTB. Register Financial Advisors LLC acquired a new stake in shares of NBT Bancorp in the 1st quarter worth approximately $27,000. Union Savings Bank raised its stake in shares of NBT Bancorp by 4,075.0% in the 1st quarter. Union Savings Bank now owns 4,843 shares of the bank’s stock worth $178,000 after buying an additional 4,727 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of NBT Bancorp in the first quarter valued at $178,000. B. Riley Wealth Advisors Inc. bought a new position in NBT Bancorp during the first quarter valued at about $332,000. Finally, ProShare Advisors LLC grew its holdings in NBT Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 9,268 shares of the bank’s stock worth $340,000 after acquiring an additional 635 shares during the period. Institutional investors and hedge funds 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 firm’s 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 directly owns 517,558 shares of the company’s stock, valued at $22,824,307.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total value of $882,000.00. Following the completion of the sale, the director now owns 517,558 shares of the company’s stock, valued at approximately $22,824,307.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $48.37, for a total transaction of $48,370.00. Following the completion of the sale, the executive vice president now owns 15,003 shares of the company’s stock, valued at $725,695.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,556 shares of company stock worth $4,527,790 over the last 90 days. 3.32% of the stock is currently owned by corporate insiders.

NBT Bancorp Price Performance

NBTB opened at $43.56 on Friday. The firm has a market capitalization of $2.05 billion, a P/E ratio of 16.82 and a beta of 0.50. The stock has a fifty day moving average of $45.39 and a 200-day moving average of $40.64. The company has a quick ratio of 0.86, a current ratio of 0.87 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 released its earnings results on Monday, July 22nd. The bank reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. The company had revenue of $194.00 million during the quarter, compared to analysts’ expectations of $139.02 million. During the same quarter in the previous year, the company earned $0.80 EPS. Equities analysts forecast that NBT Bancorp Inc. will post 2.86 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.34 per share. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 3.12%. NBT Bancorp’s dividend payout ratio (DPR) is presently 52.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NBTB shares. Stephens reissued an “equal weight” rating and issued a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. Raymond James downgraded shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $42.60.

About NBT Bancorp

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.