Charles Schwab Investment Management Inc. Purchases 9,713 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Charles Schwab Investment Management Inc. lifted its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 1.7% during the 4th quarter, Holdings Channel reports. The firm owned 595,349 shares of the bank’s stock after acquiring an additional 9,713 shares during the period. Charles Schwab Investment Management Inc.’s holdings in NBT Bancorp were worth $28,434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its position in shares of NBT Bancorp by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank’s stock worth $132,000 after purchasing an additional 597 shares during the last quarter. US Bancorp DE boosted its position in shares of NBT Bancorp by 42.0% in the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock worth $88,000 after purchasing an additional 543 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NBT Bancorp by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock worth $32,632,000 after purchasing an additional 75,693 shares during the last quarter. First National Bank & Trust Co. of Newtown bought a new position in shares of NBT Bancorp in the 4th quarter worth $202,000. Finally, Handelsbanken Fonder AB boosted its position in shares of NBT Bancorp by 12.9% in the 4th quarter. Handelsbanken Fonder AB now owns 10,495 shares of the bank’s stock worth $501,000 after purchasing an additional 1,200 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NBT Bancorp

In related news, Director Heidi M. Hoeller bought 678 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $48.45 per share, with a total value of $32,849.10. Following the completion of the transaction, the director now owns 6,437 shares in the company, valued at $311,872.65. The trade was a 11.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the sale, the executive vice president now directly owns 25,564 shares in the company, valued at approximately $1,238,575.80. This represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.32% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $43.67 on Tuesday. The company has a market capitalization of $2.06 billion, a PE ratio of 14.75 and a beta of 0.48. NBT Bancorp Inc. has a 12 month low of $32.79 and a 12 month high of $52.44. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $46.78 and its 200 day simple moving average is $47.01.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same period last year, the company posted $0.72 earnings per share. On average, research analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Monday, March 3rd. NBT Bancorp’s dividend payout ratio is 45.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NBTB shares. Keefe, Bruyette & Woods raised their price target on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. DA Davidson began coverage on NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective on the stock. Finally, Stephens raised NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NBT Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

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.