NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by Cwm LLC

Cwm LLC cut its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 4.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,804 shares of the bank’s stock after selling 1,171 shares during the quarter. Cwm LLC’s holdings in NBT Bancorp were worth $1,009,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NBTB. State Board of Administration of Florida Retirement System increased its position in NBT Bancorp by 150.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank’s stock worth $1,104,000 after purchasing an additional 19,661 shares in the last quarter. Russell Investments Group Ltd. grew its stake 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 buying an additional 82,071 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of NBT Bancorp in the second quarter worth $1,974,000. Inspire Investing LLC raised its stake in shares of NBT Bancorp by 6.9% in the 1st quarter. Inspire Investing LLC now owns 9,759 shares of the bank’s stock valued at $358,000 after acquiring an additional 634 shares during the period. Finally, Ceredex Value Advisors LLC lifted its holdings in shares of NBT Bancorp by 2.6% during the 2nd quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock valued at $8,473,000 after acquiring an additional 5,500 shares in the last quarter. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

NBT Bancorp Stock Up 0.8 %

Shares of NBT Bancorp stock opened at $46.49 on Friday. NBT Bancorp Inc. has a 1-year low of $30.35 and a 1-year high of $50.83. The company has a market capitalization of $2.19 billion, a PE ratio of 17.95 and a beta of 0.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.86. The business has a 50-day moving average of $45.49 and a 200-day moving average of $40.97.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. The business had revenue of $194.00 million for the quarter, compared to analyst estimates of $139.02 million. During the same quarter last year, the business earned $0.80 EPS. As a group, equities analysts forecast that NBT Bancorp Inc. will post 2.86 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date was Friday, August 30th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. NBT Bancorp’s payout ratio is 52.51%.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 517,558 shares of the company’s stock, valued at $22,824,307.80. This trade 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 related 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 approximately $725,695.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the transaction, the director now directly owns 517,558 shares of the company’s stock, valued at approximately $22,824,307.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,556 shares of company stock valued at $4,527,790 over the last ninety days. Corporate insiders own 3.32% of the company’s stock.

Analysts Set New Price Targets

NBTB has been the topic of several research reports. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Stephens reissued an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a research report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.