NBT Bancorp Inc. (NASDAQ:NBTB) Position Cut by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,237,058 shares of the bank's stock after selling 41,135 shares during the quarter. Dimensional Fund Advisors LP owned about 4.74% of NBT Bancorp worth $106,843,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in NBT Bancorp during the 4th quarter worth approximately $23,651,000. JPMorgan Chase & Co. grew its stake in NBT Bancorp by 307.0% during the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank's stock worth $17,998,000 after buying an additional 284,267 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of NBT Bancorp in the fourth quarter worth $12,007,000. Norges Bank purchased a new position in shares of NBT Bancorp in the 4th quarter valued at $6,736,000. Finally, Great Lakes Advisors LLC acquired a new position in shares of NBT Bancorp during the 4th quarter valued at $4,294,000. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on NBTB. StockNews.com lowered NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, January 16th. DA Davidson dropped their target price on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Monday. Hovde Group initiated coverage on NBT Bancorp in a report on Friday, March 21st. They issued a "market perform" rating and a $50.00 price target for the company. Finally, Stephens upgraded 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 note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, NBT Bancorp has an average rating of "Hold" and a consensus target price of $52.75.

Insider Buying and Selling at NBT Bancorp

In other news, Director Heidi M. Hoeller bought 678 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $48.45 per share, for a total transaction of $32,849.10. Following the transaction, the director now owns 6,437 shares in the company, valued at $311,872.65. The trade was a 11.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Sarah A. Halliday sold 5,000 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $48.45, for a total value of $242,250.00. Following the transaction, the executive vice president now owns 25,564 shares in the company, 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. 3.03% of the stock is currently owned by insiders.

NBT Bancorp Stock Up 0.7 %

Shares of NASDAQ:NBTB traded up $0.29 during trading on Thursday, hitting $42.63. The company's stock had a trading volume of 279,826 shares, compared to its average volume of 223,588. The company has a market capitalization of $2.01 billion, a PE ratio of 14.45 and a beta of 0.53. NBT Bancorp Inc. has a fifty-two week low of $34.47 and a fifty-two week high of $52.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock's 50-day moving average price is $42.51 and its two-hundred day moving average price is $46.13.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.04. NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. The company had revenue of $155.31 million for the quarter, compared to analyst estimates of $151.00 million. During the same period in the prior year, the company posted $0.68 EPS. As a group, sell-side analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current year.

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.