HighTower Advisors LLC Acquires Shares of 5,231 NBT Bancorp Inc. (NASDAQ:NBTB)

HighTower Advisors LLC bought a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,231 shares of the bank’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after acquiring an additional 252 shares during the last quarter. US Bancorp DE bought a new stake in shares of NBT Bancorp in the 3rd quarter valued at $57,000. Quest Partners LLC acquired a new position in shares of NBT Bancorp during the third quarter valued at about $57,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of NBT Bancorp during the third quarter valued at approximately $103,000. Finally, AQR Capital Management LLC bought a new position in shares of NBT Bancorp in the second quarter valued at $214,000. Institutional investors own 58.46% of the company’s stock.

Wall Street Analyst Weigh In

NBTB has been the subject of several recent research reports. Stephens reissued an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. Keefe, Bruyette & Woods increased their price objective on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com raised NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Finally, DA Davidson assumed coverage on NBT Bancorp in a research report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target for the company. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.17.

Insider Buying and Selling

In other NBT Bancorp news, Director Timothy E. Delaney sold 40,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the completion of the transaction, the director now directly owns 38,853 shares of the company’s stock, valued at approximately $1,999,763.91. This represents a 50.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amy Wiles sold 500 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the sale, the executive vice president now owns 27,409 shares in the company, valued at approximately $1,406,355.79. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,694 shares of company stock worth $4,048,185. Insiders own 3.32% of the company’s stock.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB opened at $49.19 on Wednesday. The company has a market capitalization of $2.32 billion, a PE ratio of 17.32 and a beta of 0.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $48.35 and its 200-day moving average price is $45.14. NBT Bancorp Inc. has a twelve month low of $32.79 and a twelve month high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $144.70 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. On average, equities analysts anticipate that NBT Bancorp Inc. will post 2.94 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.34 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.36 annualized dividend and a yield of 2.76%. NBT Bancorp’s payout ratio is currently 47.89%.

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.