First National Bank & Trust Co. of Newtown Takes Position in NBT Bancorp Inc. (NASDAQ:NBTB)

First National Bank & Trust Co. of Newtown bought a new position in NBT Bancorp Inc. (NASDAQ:NBTB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,231 shares of the bank’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NBTB. Raymond James & Associates grew its holdings in NBT Bancorp by 3.9% in the 3rd quarter. Raymond James & Associates now owns 95,062 shares of the bank’s stock worth $4,205,000 after acquiring an additional 3,540 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of NBT Bancorp by 3.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 144,642 shares of the bank’s stock worth $6,398,000 after purchasing an additional 5,235 shares during the last quarter. US Bancorp DE purchased a new position in NBT Bancorp during the 3rd quarter valued at about $57,000. Ceredex Value Advisors LLC raised its position in NBT Bancorp by 40.9% during the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock valued at $13,680,000 after purchasing an additional 89,800 shares during the last quarter. Finally, Focused Wealth Management Inc bought a new position in NBT Bancorp during the 3rd quarter valued at approximately $217,000. 58.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NBTB shares. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a research report on Wednesday, January 29th. DA Davidson initiated coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted their price target on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NBT Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

NBT Bancorp Price Performance

NBTB opened at $47.99 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 16.21 and a beta of 0.52. The stock has a fifty day simple moving average of $48.14 and a two-hundred day simple moving average of $47.12. NBT Bancorp Inc. has a 12-month low of $32.79 and a 12-month high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last released 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 previous year, the company earned $0.72 earnings per share. Research analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.34 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.36 annualized dividend and a dividend yield of 2.83%. NBT Bancorp’s payout ratio is 45.95%.

Insider Transactions at NBT Bancorp

In other news, EVP Amy Wiles sold 500 shares of NBT Bancorp stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the transaction, the executive vice president now owns 27,409 shares of the company’s stock, valued at $1,406,355.79. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sarah A. Halliday sold 5,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $48.45, for a total transaction of $242,250.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 15,694 shares of company stock valued at $778,535 in the last ninety days. 3.32% of the stock is currently owned by corporate insiders.

NBT Bancorp Company 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.