NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 4.4% during the third quarter, Holdings Channel reports. The firm owned 222,304 shares of the bank’s stock after selling 10,163 shares during the quarter. Principal Financial Group Inc.’s holdings in NBT Bancorp were worth $9,833,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of NBT Bancorp by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock worth $88,675,000 after purchasing an additional 46,498 shares in the last quarter. Deprince Race & Zollo Inc. increased its stake in NBT Bancorp by 14.9% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after buying an additional 107,404 shares during the period. Victory Capital Management Inc. lifted its holdings in NBT Bancorp by 540.2% during the 2nd quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock worth $27,147,000 after buying an additional 593,436 shares in the last quarter. Bank of New York Mellon Corp boosted its position in NBT Bancorp by 36.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock valued at $24,307,000 after buying an additional 169,180 shares during the period. Finally, Ceredex Value Advisors LLC boosted its position in NBT Bancorp by 40.9% in the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock valued at $13,680,000 after buying an additional 89,800 shares during the period. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NBT Bancorp

In other news, Director V Daniel Robinson II sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total value of $882,000.00. Following the completion of the sale, the director now directly owns 517,558 shares of the company’s stock, valued at approximately $22,824,307.80. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amy Wiles sold 556 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the transaction, the executive vice president now owns 28,909 shares in the company, valued at $1,300,905. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,556 shares of company stock worth $8,039,690 over the last three months. Insiders own 3.32% of the company’s stock.

Wall Street Analysts Forecast Growth

NBTB has been the topic of a number of recent research reports. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Stephens reiterated an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $42.60.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $48.93 on Tuesday. 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 fifty day simple moving average of $45.35 and a 200-day simple moving average of $42.78. The stock has a market cap of $2.31 billion, a P/E ratio of 17.35 and a beta of 0.49. NBT Bancorp Inc. has a 12-month low of $32.79 and a 12-month high of $51.93.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The company had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. During the same period in the previous year, the business earned $0.84 EPS. Equities analysts expect that NBT Bancorp Inc. will post 2.91 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is 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.