NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by Community Bank N.A.

Community Bank N.A. lowered its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 4.6% during the fourth quarter, Holdings Channel reports. The firm owned 18,795 shares of the bank’s stock after selling 900 shares during the quarter. Community Bank N.A.’s holdings in NBT Bancorp were worth $897,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in NBTB. GAMMA Investing LLC grew its holdings in shares of NBT Bancorp by 66.5% during the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock worth $62,000 after buying an additional 517 shares during the last quarter. Quest Partners LLC purchased a new position in shares of NBT Bancorp during the third quarter worth about $57,000. Rialto Wealth Management LLC purchased a new position in shares of NBT Bancorp during the fourth quarter worth about $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 valued at $88,000 after purchasing an additional 543 shares in the last quarter. Finally, Crews Bank & Trust purchased a new stake in NBT Bancorp in the 4th quarter valued at approximately $98,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB opened at $42.80 on Friday. The business’s 50 day simple moving average is $46.54 and its 200-day simple moving average is $46.87. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 14.46 and a beta of 0.48. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. NBT Bancorp Inc. has a 12 month low of $32.93 and a 12 month high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, January 27th. The bank reported $0.77 earnings per share (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 last year, the company earned $0.72 EPS. As a group, equities analysts forecast 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. Investors of record on Monday, March 3rd were given a dividend of $0.34 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.36 annualized dividend and a dividend yield of 3.18%. NBT Bancorp’s dividend payout ratio is currently 45.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NBTB shares. Stephens raised NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a report on Wednesday, January 29th. DA Davidson started coverage on NBT Bancorp in a report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Finally, Hovde Group began coverage on NBT Bancorp in a research note on Friday. They set a “market perform” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NBT Bancorp currently has a consensus rating of “Hold” and a consensus price target of $54.50.

Insider Buying and Selling

In other NBT Bancorp news, Director Heidi M. Hoeller purchased 678 shares of the business’s stock in a transaction on Friday, February 7th. The stock was bought at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the acquisition, the director now owns 6,437 shares of the company’s stock, valued at approximately $311,872.65. The trade was a 11.77 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sarah A. Halliday sold 5,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were 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 trade represents a 16.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.32% of the company’s stock.

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.