GAMMA Investing LLC Acquires 252 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

GAMMA Investing LLC lifted its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 47.9% in the third quarter, HoldingsChannel.com reports. The fund owned 778 shares of the bank’s stock after buying an additional 252 shares during the quarter. GAMMA Investing LLC’s holdings in NBT Bancorp were worth $34,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Register Financial Advisors LLC bought a new position in NBT Bancorp in the 1st quarter worth approximately $27,000. SG Americas Securities LLC bought a new position in shares of NBT Bancorp during the first quarter worth $178,000. AQR Capital Management LLC purchased a new position in NBT Bancorp during the second quarter valued at $214,000. Union Savings Bank increased its holdings in NBT Bancorp by 45.1% in the 2nd quarter. Union Savings Bank now owns 7,026 shares of the bank’s stock valued at $271,000 after acquiring an additional 2,183 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in NBT Bancorp in the 1st quarter worth $332,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Wall Street Analysts Forecast Growth

NBTB has been the subject of a number of research analyst reports. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Stephens reissued an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.60.

NBT Bancorp Stock Performance

Shares of NASDAQ:NBTB opened at $45.71 on Friday. The firm has a fifty day simple moving average of $45.51 and a two-hundred day simple moving average of $41.03. NBT Bancorp Inc. has a 52 week low of $30.35 and a 52 week high of $50.83. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.16 billion, a P/E ratio of 17.65 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 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. The business had revenue of $194.00 million during the quarter, compared to the consensus estimate of $139.02 million. During the same period in the previous year, the business posted $0.80 EPS. On average, analysts expect that NBT Bancorp Inc. will post 2.86 earnings per share for the current fiscal year.

NBT Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.34 dividend. 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 dividend yield of 2.98%. NBT Bancorp’s payout ratio is 52.51%.

Insider Activity

In related news, EVP Martin Randolph Sparks sold 1,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the completion of the sale, the executive vice president now directly owns 15,003 shares in the company, valued at $725,695.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NBT Bancorp news, EVP Amy Wiles sold 556 shares of the business’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 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 $1,300,905. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Martin Randolph Sparks sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the completion of the sale, the executive vice president now owns 15,003 shares in the company, valued at approximately $725,695.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,556 shares of company stock valued at $4,527,790. 3.32% of the stock is currently owned by insiders.

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.