Rafferty Asset Management LLC Trims Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

Rafferty Asset Management LLC lessened its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,266 shares of the bank’s stock after selling 1,257 shares during the period. Rafferty Asset Management LLC owned about 0.08% of NBT Bancorp worth $1,732,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NBTB. Sterling Capital Management LLC increased its holdings in NBT Bancorp by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,292 shares during the period. Rialto Wealth Management LLC bought a new stake in NBT Bancorp during the 4th quarter valued at approximately $87,000. US Bancorp DE boosted its position in NBT Bancorp by 42.0% during the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock valued at $88,000 after acquiring an additional 543 shares in the last quarter. Crews Bank & Trust bought a new stake in NBT Bancorp during the 4th quarter valued at approximately $98,000. Finally, KBC Group NV boosted its position in NBT Bancorp by 47.5% during the 4th quarter. KBC Group NV now owns 2,152 shares of the bank’s stock valued at $103,000 after acquiring an additional 693 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Analyst Ratings Changes

NBTB has been the topic of several research reports. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. Hovde Group initiated coverage on NBT Bancorp in a research report on Friday, March 21st. They set a “market perform” rating and a $50.00 price objective on the stock. 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 research report on Wednesday, January 29th. Finally, DA Davidson cut their price objective on NBT Bancorp from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $52.75.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director Heidi M. Hoeller acquired 2,588 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $42.88 per share, with a total value of $110,973.44. Following the transaction, the director now owns 11,578 shares of the company’s stock, valued at $496,464.64. The trade was a 28.79% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.03% of the stock is currently owned by insiders.

NBT Bancorp Stock Performance

Shares of NBTB opened at $43.68 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average price is $42.05 and its 200-day moving average price is $46.00. NBT Bancorp Inc. has a 52 week low of $34.47 and a 52 week high of $52.44. The stock has a market cap of $2.06 billion, a P/E ratio of 14.76 and a beta of 0.58.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $155.31 million for the quarter, compared to analysts’ expectations of $151.00 million. NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same period in the previous year, the firm posted $0.68 EPS. Equities research analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.11%. NBT Bancorp’s dividend payout ratio (DPR) is presently 45.03%.

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.