Edgestream Partners L.P. Takes Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Edgestream Partners L.P. purchased a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,140 shares of the bank’s stock, valued at approximately $1,974,000. Edgestream Partners L.P. owned approximately 0.11% of NBT Bancorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Register Financial Advisors LLC bought a new stake in shares of NBT Bancorp in the 1st quarter worth $27,000. Union Savings Bank grew its position in NBT Bancorp by 4,075.0% in the 1st quarter. Union Savings Bank now owns 4,843 shares of the bank’s stock worth $178,000 after purchasing an additional 4,727 shares in the last quarter. SG Americas Securities LLC purchased a new stake in NBT Bancorp in the 1st quarter valued at about $178,000. B. Riley Wealth Advisors Inc. bought a new position in shares of NBT Bancorp during the 1st quarter worth approximately $332,000. Finally, ProShare Advisors LLC boosted its stake in shares of NBT Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 9,268 shares of the bank’s stock worth $340,000 after buying an additional 635 shares during the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on NBTB. Stephens reaffirmed an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a research report on Tuesday, September 10th. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. One 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.60.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, EVP Martin Randolph Sparks sold 1,000 shares of the stock in a transaction 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 owns 15,003 shares in the company, valued at $725,695.11. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $25,020.00. Following the sale, the executive vice president now owns 28,909 shares of the company’s stock, valued at approximately $1,300,905. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Martin Randolph Sparks sold 1,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.37, for a total transaction of $48,370.00. Following the completion of the transaction, the executive vice president now directly owns 15,003 shares of the company’s stock, valued at $725,695.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,556 shares of company stock worth $4,527,790. Corporate insiders own 3.32% of the company’s stock.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $46.15 on Friday. The business’s 50 day simple moving average is $46.33 and its 200 day simple moving average is $39.69. NBT Bancorp Inc. has a 12 month low of $30.31 and a 12 month high of $50.83. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 17.82 and a beta of 0.50. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). The firm had revenue of $194.00 million during the quarter, compared to analysts’ expectations of $139.02 million. NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. During the same period last year, the business posted $0.80 EPS. Sell-side analysts forecast that NBT Bancorp Inc. will post 2.86 EPS for the current year.

NBT Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.34 dividend. The ex-dividend date was Friday, August 30th. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 2.95%. NBT Bancorp’s dividend payout ratio (DPR) is 52.51%.

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.