Vanguard Group Inc. Sells 6,199 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Vanguard Group Inc. reduced its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 0.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,570,364 shares of the bank’s stock after selling 6,199 shares during the period. Vanguard Group Inc. owned about 0.12% of NBT Bancorp worth $266,041,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in NBT Bancorp by 66.5% during the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock valued at $62,000 after purchasing an additional 517 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in shares of NBT Bancorp during the 4th quarter valued at $87,000. US Bancorp DE boosted its holdings in NBT Bancorp by 42.0% in the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock worth $88,000 after buying an additional 543 shares during the period. Crews Bank & Trust purchased a new stake in NBT Bancorp in the 4th quarter worth $98,000. Finally, KBC Group NV raised its holdings in NBT Bancorp by 47.5% during the fourth quarter. KBC Group NV now owns 2,152 shares of the bank’s stock valued at $103,000 after acquiring an additional 693 shares during the period. 58.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NBTB shares. Hovde Group assumed coverage on NBT Bancorp in a research report on Friday, March 21st. They set a “market perform” rating and a $50.00 target price for the company. Stephens raised shares of 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. StockNews.com downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Finally, DA Davidson began coverage on shares of NBT Bancorp in a report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NBT Bancorp has an average rating of “Hold” and an average price target of $54.50.

NBT Bancorp Trading Down 2.1 %

NBTB stock opened at $38.83 on Friday. The firm has a fifty day moving average price of $45.51 and a 200 day moving average price of $46.65. NBT Bancorp Inc. has a fifty-two week low of $32.93 and a fifty-two week high of $52.44. The firm has a market cap of $1.83 billion, a PE ratio of 13.12 and a beta of 0.53. 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 posted its earnings results on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company earned $0.72 earnings per share. Sell-side analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Monday, March 3rd. NBT Bancorp’s payout ratio is 45.95%.

Insider Transactions at NBT Bancorp

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

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.