Principal Financial Group Inc. cut its holdings in NBT Bancorp Inc. (NASDAQ:NBTB – Free Report) by 4.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 222,304 shares of the bank’s stock after selling 10,163 shares during the period. Principal Financial Group Inc.’s holdings in NBT Bancorp were worth $9,833,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Eagle Asset Management Inc. grew its position in shares of NBT Bancorp by 76.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock worth $16,759,000 after purchasing an additional 163,952 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in NBT Bancorp during the third quarter worth approximately $439,000. Barclays PLC increased its stake in NBT Bancorp by 41.8% during the 3rd quarter. Barclays PLC now owns 91,880 shares of the bank’s stock worth $4,064,000 after acquiring an additional 27,085 shares during the period. Edgestream Partners L.P. acquired a new position in NBT Bancorp in the 2nd quarter valued at $1,974,000. Finally, Geode Capital Management LLC lifted its position in shares of NBT Bancorp by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after acquiring an additional 10,628 shares during the period. Institutional investors and hedge funds own 58.46% of the company’s stock.
NBT Bancorp Trading Down 1.0 %
NBTB opened at $47.93 on Tuesday. The company has a market cap of $2.26 billion, a P/E ratio of 16.88 and a beta of 0.52. 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 company’s 50 day moving average is $48.67 and its 200-day moving average is $45.60. NBT Bancorp Inc. has a 1-year low of $32.79 and a 1-year high of $52.44.
NBT Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.34 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.84%. NBT Bancorp’s payout ratio is presently 47.89%.
Insider Buying and Selling at NBT Bancorp
In other NBT Bancorp news, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the transaction, the director now directly owns 38,853 shares in the company, valued at approximately $1,999,763.91. This represents a 50.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John H. Watt, Jr. sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total transaction of $909,000.00. Following the transaction, the director now directly owns 143,101 shares of the company’s stock, valued at $6,503,940.45. The trade was a 12.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,694 shares of company stock worth $4,048,185. 3.32% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
NBTB has been the topic of a number of recent analyst reports. 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 raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. DA Davidson began coverage on shares of NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target for the company. Finally, Stephens reissued an “equal weight” rating and issued a $49.00 price objective 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, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.17.
View Our Latest Stock Analysis on NBTB
About NBT Bancorp
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.
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