Peoples Financial Services CORP. decreased its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB – Free Report) by 21.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,000 shares of the bank’s stock after selling 4,000 shares during the quarter. Peoples Financial Services CORP.’s holdings in NBT Bancorp were worth $716,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in NBTB. Arizona State Retirement System lifted its stake in NBT Bancorp by 2.0% during the second quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock worth $509,000 after purchasing an additional 258 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in NBT Bancorp by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock valued at $88,675,000 after buying an additional 46,498 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in NBT Bancorp in the second quarter valued at approximately $1,974,000. Bradley Foster & Sargent Inc. CT lifted its stake in NBT Bancorp by 49.6% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 28,213 shares of the bank’s stock valued at $1,089,000 after buying an additional 9,349 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in NBT Bancorp by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 103,705 shares of the bank’s stock valued at $4,003,000 after buying an additional 7,183 shares during the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.
NBT Bancorp Trading Up 2.8 %
NASDAQ:NBTB opened at $47.04 on Wednesday. The firm has a market cap of $2.22 billion, a P/E ratio of 16.56 and a beta of 0.53. 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 stock’s 50 day simple moving average is $49.18 and its 200-day simple moving average is $46.39. NBT Bancorp Inc. has a 12-month low of $32.79 and a 12-month high of $52.44.
NBT Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Monday, December 2nd. NBT Bancorp’s dividend payout ratio is presently 47.89%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on NBTB shares. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson assumed coverage on NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, NBT Bancorp has an average rating of “Hold” and a consensus target price of $48.80.
Get Our Latest Stock Report on NBTB
Insider Buying and Selling
In related news, Director John H. Watt, Jr. sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the transaction, the director now owns 143,101 shares of the company’s stock, valued at $6,503,940.45. This represents a 12.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Amy Wiles sold 1,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $50.10, for a total value of $50,100.00. Following the transaction, the executive vice president now directly owns 27,909 shares in the company, valued at $1,398,240.90. This represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,694 shares of company stock valued at $4,048,185 over the last quarter. Company insiders own 3.32% of the company’s stock.
About NBT Bancorp
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.
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