Intech Investment Management LLC Acquires Shares of 8,244 NBT Bancorp Inc. (NASDAQ:NBTB)

Intech Investment Management LLC bought a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,244 shares of the bank’s stock, valued at approximately $365,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NBTB. GAMMA Investing LLC boosted its position in 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 purchasing an additional 252 shares during the last quarter. Arizona State Retirement System raised its stake in shares of NBT Bancorp by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock worth $509,000 after purchasing an additional 258 shares during the period. Inspire Investing LLC boosted its holdings in shares of NBT Bancorp by 3.7% in the 3rd quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock worth $415,000 after buying an additional 331 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in NBT Bancorp by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock worth $915,000 after buying an additional 400 shares during the last quarter. Finally, US Bancorp DE bought a new stake in NBT Bancorp in the third quarter worth about $57,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analysts Set New Price Targets

NBTB has been the subject of several research reports. Stephens reissued an “equal weight” rating and set a $49.00 price objective on shares of NBT Bancorp in a report on Tuesday, September 10th. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.60.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $49.02 on Wednesday. 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 Inc. has a one year low of $32.79 and a one year high of $52.31. The firm has a market capitalization of $2.31 billion, a P/E ratio of 17.26 and a beta of 0.52. The business has a fifty day moving average price of $46.50 and a 200-day moving average price of $43.81.

NBT Bancorp (NASDAQ:NBTB) last posted 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 business had revenue of $202.00 million during the quarter, compared to analyst estimates of $144.70 million. During the same quarter in the previous year, the firm earned $0.84 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 annualized dividend and a dividend yield of 2.77%. NBT Bancorp’s payout ratio is currently 47.89%.

Insider Buying and Selling

In related news, EVP Amy Wiles sold 556 shares of the company’s stock in a transaction that occurred on 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 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director V Daniel Robinson II sold 20,000 shares of the firm’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 transaction of $882,000.00. Following the completion of the sale, the director now directly owns 517,558 shares in the company, valued at $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 quarter, insiders have sold 182,556 shares of company stock worth $8,540,290. Corporate 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.