Inspire Investing LLC Purchases 331 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Inspire Investing LLC raised its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,378 shares of the bank’s stock after acquiring an additional 331 shares during the quarter. Inspire Investing LLC’s holdings in NBT Bancorp were worth $415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NBTB. Goldman Sachs Group Inc. grew its position in NBT Bancorp by 3.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 528,965 shares of the bank’s stock valued at $22,169,000 after purchasing an additional 19,084 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of NBT Bancorp by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 5,642,447 shares of the bank’s stock worth $236,475,000 after buying an additional 126,572 shares during the last quarter. Register Financial Advisors LLC bought a new position in shares of NBT Bancorp in the 1st quarter valued at about $27,000. Horizon Advisory Services Inc. acquired a new stake in shares of NBT Bancorp in the first quarter valued at about $1,276,000. Finally, BNP Paribas Financial Markets raised its holdings in NBT Bancorp by 51.8% during the first quarter. BNP Paribas Financial Markets now owns 22,962 shares of the bank’s stock worth $842,000 after acquiring an additional 7,831 shares in the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Stock Performance

NBTB opened at $45.62 on Wednesday. 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. The business has a 50 day moving average of $45.41 and a 200-day moving average of $40.89. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 17.61 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly 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 business earned $0.80 EPS. On average, equities research analysts expect that NBT Bancorp Inc. will post 2.86 earnings per share for the current year.

NBT Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.34 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 2.98%. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. NBT Bancorp’s dividend payout ratio is 52.51%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, EVP Amy Wiles sold 556 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the transaction, the executive vice president now owns 28,909 shares of the company’s stock, valued at approximately $1,300,905. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Amy Wiles sold 556 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $25,020.00. Following the transaction, the executive vice president now directly owns 28,909 shares in the company, valued at approximately $1,300,905. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the director now directly owns 517,558 shares in the company, valued at approximately $22,824,307.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,556 shares of company stock worth $4,527,790 over the last three months. Insiders own 3.32% of the company’s stock.

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.