Thrivent Financial for Lutherans Grows Stock Holdings in NBT Bancorp Inc. $NBTB

Thrivent Financial for Lutherans raised its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 60.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,579 shares of the bank’s stock after buying an additional 22,780 shares during the period. Thrivent Financial for Lutherans’ holdings in NBT Bancorp were worth $2,515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after buying an additional 609 shares during the period. Larson Financial Group LLC grew its position in NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after acquiring an additional 799 shares in the last quarter. Allworth Financial LP acquired a new position in NBT Bancorp in the 3rd quarter valued at about $46,000. Cloud Capital Management LLC acquired a new position in NBT Bancorp in the 3rd quarter valued at about $66,000. Finally, Resources Management Corp CT ADV grew its position in NBT Bancorp by 165.8% in the 3rd quarter. Resources Management Corp CT ADV now owns 2,724 shares of the bank’s stock valued at $114,000 after acquiring an additional 1,699 shares in the last quarter. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. DA Davidson reaffirmed a “buy” rating and issued a $52.00 target price on shares of NBT Bancorp in a research report on Monday, April 27th. Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Hovde Group dropped their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research report on Monday, April 27th. Brean Capital downgraded NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Janney Montgomery Scott downgraded NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.50.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $45.93 on Tuesday. The company has a market cap of $2.39 billion, a P/E ratio of 13.09 and a beta of 0.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a 50-day moving average of $43.94 and a two-hundred day moving average of $43.36. NBT Bancorp Inc. has a 1-year low of $39.19 and a 1-year high of $46.92.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The company had revenue of $184.48 million for the quarter, compared to analyst estimates of $185.36 million. As a group, analysts anticipate that NBT Bancorp Inc. will post 4.15 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.2%. NBT Bancorp’s payout ratio is currently 42.17%.

NBT Bancorp Company Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.