US Bancorp DE Acquires 543 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

US Bancorp DE boosted its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 42.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,836 shares of the bank’s stock after purchasing an additional 543 shares during the period. US Bancorp DE’s holdings in NBT Bancorp were worth $88,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quest Partners LLC bought a new position in shares of NBT Bancorp during the third quarter valued at approximately $57,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in NBT Bancorp during the 3rd quarter valued at $342,000. Intech Investment Management LLC bought a new position in NBT Bancorp in the 3rd quarter worth $365,000. Landscape Capital Management L.L.C. purchased a new stake in shares of NBT Bancorp in the 3rd quarter worth about $439,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of NBT Bancorp by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 585,636 shares of the bank’s stock valued at $25,903,000 after purchasing an additional 7,294 shares in the last quarter. Institutional investors own 58.46% of the company’s stock.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director Heidi M. Hoeller bought 678 shares of the business’s stock in a transaction on Friday, February 7th. The shares were acquired at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the purchase, the director now owns 6,437 shares in the company, valued at approximately $311,872.65. This trade represents a 11.77 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sarah A. Halliday sold 5,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the transaction, the executive vice president now owns 25,564 shares of the company’s stock, valued at $1,238,575.80. This represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. 3.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price 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. DA Davidson started coverage on NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target on the stock. Finally, Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB opened at $43.67 on Tuesday. NBT Bancorp Inc. has a fifty-two week low of $32.79 and a fifty-two week high of $52.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 14.75 and a beta of 0.48. The company has a 50 day simple moving average of $46.78 and a two-hundred day simple moving average of $47.01.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same period in the prior year, the company earned $0.72 earnings per share. Analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.34 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 3.11%. NBT Bancorp’s dividend payout ratio is currently 45.95%.

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.