New York State Teachers Retirement System Trims Stock Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

New York State Teachers Retirement System cut its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,876 shares of the bank’s stock after selling 800 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of NBT Bancorp worth $1,764,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after acquiring an additional 252 shares during the last quarter. SG Americas Securities LLC purchased a new stake in NBT Bancorp during the 1st quarter valued at $178,000. AQR Capital Management LLC bought a new stake in shares of NBT Bancorp in the 2nd quarter worth $214,000. Union Savings Bank raised its stake in shares of NBT Bancorp by 45.1% in the second quarter. Union Savings Bank now owns 7,026 shares of the bank’s stock worth $271,000 after purchasing an additional 2,183 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of NBT Bancorp during the first quarter valued at $332,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Insider Transactions at NBT Bancorp

In other news, EVP Martin Randolph Sparks sold 1,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 15,003 shares of the company’s stock, valued at $725,695.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NBT Bancorp news, EVP Amy Wiles sold 556 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $25,020.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Martin Randolph Sparks sold 1,000 shares of the firm’s stock in a transaction dated 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 directly owns 15,003 shares of the company’s stock, valued at approximately $725,695.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,556 shares of company stock valued at $5,486,890. 3.32% of the stock is currently owned by insiders.

NBT Bancorp Stock Up 1.7 %

NBTB stock opened at $49.39 on Friday. The business’s 50-day moving average price is $45.11 and its 200-day moving average price is $42.18. The stock has a market cap of $2.33 billion, a P/E ratio of 17.39 and a beta of 0.49. NBT Bancorp Inc. has a twelve month low of $32.79 and a twelve month high of $51.22. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The company had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. During the same quarter in the prior year, the firm posted $0.84 EPS. On average, equities research analysts forecast that NBT Bancorp Inc. will post 2.91 EPS for the current year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.75%. NBT Bancorp’s payout ratio is 47.89%.

Analyst Upgrades and Downgrades

NBTB has been the subject of several research analyst reports. Stephens reiterated an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a report on Tuesday, September 10th. StockNews.com raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Raymond James downgraded shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, NBT Bancorp currently has a consensus rating of “Hold” and a consensus price target of $42.60.

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.