Landscape Capital Management L.L.C. Invests $439,000 in NBT Bancorp Inc. (NASDAQ:NBTB)

Landscape Capital Management L.L.C. bought a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 9,926 shares of the bank’s stock, valued at approximately $439,000.

Other hedge funds have also modified their holdings of the company. Edgestream Partners L.P. acquired a new stake in NBT Bancorp in the second quarter valued at approximately $1,974,000. Ceredex Value Advisors LLC grew its holdings in 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 purchasing an additional 5,500 shares in the last quarter. Raymond James & Associates grew its holdings in NBT Bancorp by 3.9% during the 3rd quarter. Raymond James & Associates now owns 95,062 shares of the bank’s stock valued at $4,205,000 after purchasing an additional 3,540 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in NBT Bancorp during the 3rd quarter worth $1,909,000. Finally, US Bancorp DE acquired a new position in NBT Bancorp in the 3rd quarter worth $57,000. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John H. Watt, Jr. sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total value of $909,000.00. Following the completion of the transaction, the director now directly owns 143,101 shares of the company’s stock, valued at $6,503,940.45. This represents a 12.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Amy Wiles sold 556 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the transaction, the executive vice president now owns 28,909 shares of the company’s stock, valued at $1,300,905. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,556 shares of company stock valued at $8,039,690. Insiders own 3.32% of the company’s stock.

NBT Bancorp Stock Up 2.3 %

NASDAQ:NBTB opened at $50.45 on Monday. The stock has a 50-day simple moving average of $45.81 and a 200 day simple moving average of $43.17. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $51.93. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 17.76 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same period in the previous year, the business earned $0.84 EPS. Sell-side analysts predict that NBT Bancorp Inc. will post 2.91 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

Analyst Ratings Changes

NBTB has been the topic of a number of analyst reports. StockNews.com raised NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Stephens restated an “equal weight” rating and set a $49.00 price objective on shares of NBT Bancorp in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $42.60.

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.