Fmr LLC Buys 2,393 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Fmr LLC lifted its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 15.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,612 shares of the bank’s stock after buying an additional 2,393 shares during the period. Fmr LLC’s holdings in NBT Bancorp were worth $779,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NBTB. GAMMA Investing LLC boosted its stake in NBT Bancorp by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after purchasing an additional 252 shares in the last quarter. US Bancorp DE acquired a new position in shares of NBT Bancorp in the third quarter valued at about $57,000. Quest Partners LLC purchased a new position in shares of NBT Bancorp in the third quarter worth about $57,000. Focused Wealth Management Inc acquired a new stake in shares of NBT Bancorp during the third quarter worth about $217,000. Finally, Ascent Wealth Partners LLC purchased a new stake in NBT Bancorp in the third quarter valued at approximately $218,000. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Down 2.8 %

NBT Bancorp stock opened at $50.87 on Wednesday. The firm has a market capitalization of $2.40 billion, a P/E ratio of 18.24 and a beta of 0.52. The stock’s fifty day simple moving average is $47.85 and its 200-day simple moving average is $44.68. NBT Bancorp Inc. has a twelve month low of $32.79 and a twelve month high of $52.44. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The business had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. During the same quarter in the prior year, the business posted $0.84 EPS. As a group, equities analysts expect that NBT Bancorp Inc. will post 2.94 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders 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 dividend yield of 2.67%. NBT Bancorp’s payout ratio is 47.89%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Stephens reiterated an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a research note on Tuesday, September 10th. StockNews.com raised NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, December 10th. DA Davidson began coverage on NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their price objective 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. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.17.

Insider Buying and Selling at NBT Bancorp

In other news, EVP Amy Wiles sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $50.10, for a total value of $50,100.00. Following the completion of the sale, the executive vice president now owns 27,909 shares in the company, valued at approximately $1,398,240.90. This trade represents a 3.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy E. Delaney sold 40,000 shares of NBT Bancorp 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 sale, the director now directly owns 38,853 shares in the company, valued at $1,999,763.91. This represents a 50.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,694 shares of company stock worth $4,048,185. 3.32% of the stock is owned by company insiders.

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.