ProShare Advisors LLC Lowers Stock Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

ProShare Advisors LLC lowered its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 23.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,082 shares of the bank’s stock after selling 2,186 shares during the period. ProShare Advisors LLC’s holdings in NBT Bancorp were worth $273,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NBTB. Victory Capital Management Inc. boosted its stake in shares of NBT Bancorp by 540.2% in the second quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock worth $27,147,000 after acquiring an additional 593,436 shares during the period. Bank of New York Mellon Corp lifted its holdings in NBT Bancorp by 36.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock worth $24,307,000 after purchasing an additional 169,180 shares in the last quarter. Vanguard Group Inc. boosted its stake in NBT Bancorp by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 5,642,447 shares of the bank’s stock worth $236,475,000 after purchasing an additional 126,572 shares during the period. Russell Investments Group Ltd. grew its holdings in NBT Bancorp by 978.7% during the 1st quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock valued at $3,318,000 after buying an additional 82,071 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of NBT Bancorp during the second quarter valued at approximately $1,974,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NBTB shares. Stephens restated an “equal weight” rating and set a $49.00 target price 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 analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.60.

Insider Buying and Selling

In other NBT Bancorp news, EVP Amy Wiles sold 556 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 28,909 shares in the company, valued at $1,300,905. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NBT Bancorp news, EVP Amy Wiles sold 556 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $25,020.00. Following the completion of the transaction, the executive vice president now owns 28,909 shares in the company, valued at $1,300,905. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director V Daniel Robinson II sold 30,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $44.78, for a total value of $1,343,400.00. Following the completion of the sale, the director now owns 387,558 shares in the company, valued at $17,354,847.24. The disclosure for this sale can be found here. Insiders sold a total of 101,556 shares of company stock worth $4,527,790 over the last three months. 3.32% of the stock is owned by insiders.

NBT Bancorp Price Performance

NBTB stock opened at $42.75 on Friday. NBT Bancorp Inc. has a 52 week low of $30.35 and a 52 week high of $50.83. The firm has a market capitalization of $2.02 billion, a P/E ratio of 16.51 and a beta of 0.50. The company has a fifty day simple moving average of $45.93 and a two-hundred day simple moving average of $40.33. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $0.69 EPS 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 during the quarter, compared to the consensus estimate of $139.02 million. During the same period in the previous year, the business posted $0.80 EPS. Analysts anticipate that NBT Bancorp Inc. will post 2.86 earnings per share 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 issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. NBT Bancorp’s dividend payout ratio is presently 52.51%.

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.