US Bancorp DE Makes New $57,000 Investment in NBT Bancorp Inc. (NASDAQ:NBTB)

US Bancorp DE purchased a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 1,293 shares of the bank’s stock, valued at approximately $57,000.

A number of other large investors have also made changes to their positions in NBTB. SG Americas Securities LLC purchased a new stake in shares of NBT Bancorp during the 1st quarter worth approximately $178,000. Russell Investments Group Ltd. raised its holdings in NBT Bancorp by 978.7% during the first quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock worth $3,318,000 after purchasing an additional 82,071 shares during the last quarter. ProShare Advisors LLC boosted its position 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 purchasing an additional 635 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in NBT Bancorp by 150.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank’s stock valued at $1,104,000 after purchasing an additional 19,661 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of NBT Bancorp by 8.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 46,791 shares of the bank’s stock valued at $1,715,000 after buying an additional 3,661 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NBTB. StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Raymond James cut shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.60.

Insider Activity

In related news, EVP Amy Wiles sold 556 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the completion of the sale, the executive vice president now directly owns 28,909 shares of the company’s stock, valued at $1,300,905. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director V Daniel Robinson II sold 20,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 517,558 shares in the company, valued at approximately $22,824,307.80. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 162,556 shares of company stock worth $7,545,690. 3.32% of the stock is currently owned by company insiders.

NBT Bancorp Trading Down 0.7 %

Shares of NBTB stock opened at $49.26 on Monday. NBT Bancorp Inc. has a 1-year low of $32.79 and a 1-year high of $51.93. The firm’s 50-day simple moving average is $45.35 and its 200-day simple moving average is $42.73. The firm has a market cap of $2.32 billion, a P/E ratio of 17.35 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The firm had revenue of $202.00 million for the quarter, compared to analysts’ expectations of $144.70 million. During the same quarter last year, the firm earned $0.84 earnings per share. As a group, equities analysts forecast that NBT Bancorp Inc. will post 2.91 EPS for the current year.

NBT Bancorp Dividend Announcement

The company also recently announced 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 of this dividend is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.76%. NBT Bancorp’s payout ratio is currently 47.89%.

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.