Teacher Retirement System of Texas Invests $323,000 in NBT Bancorp Inc. (NASDAQ:NBTB)

Teacher Retirement System of Texas acquired a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,520 shares of the bank's stock, valued at approximately $323,000.

Several other institutional investors also recently made changes to their positions in NBTB. Leigh Baldwin & CO. LLC bought a new position in NBT Bancorp in the 4th quarter worth approximately $52,606,000. Silvercrest Asset Management Group LLC bought a new position in NBT Bancorp during the 4th quarter valued at $38,978,000. Raymond James Financial Inc. bought a new position in NBT Bancorp during the 4th quarter valued at $23,651,000. JPMorgan Chase & Co. boosted its stake in NBT Bancorp by 307.0% during the 4th quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank's stock valued at $17,998,000 after purchasing an additional 284,267 shares in the last quarter. Finally, Norges Bank bought a new position in NBT Bancorp during the 4th quarter valued at $6,736,000. 58.46% of the stock is owned by institutional investors.

Insider Activity

In other NBT Bancorp news, Director Heidi M. Hoeller purchased 2,588 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $42.88 per share, for a total transaction of $110,973.44. Following the completion of the purchase, the director directly owned 11,578 shares in the company, valued at approximately $496,464.64. This trade represents a 28.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John H. Watt, Jr. sold 7,869 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total transaction of $330,655.38. Following the transaction, the director owned 116,027 shares of the company's stock, valued at approximately $4,875,454.54. This represents a 6.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 5,491 shares of company stock valued at $235,674. 3.03% of the stock is owned by corporate insiders.

NBT Bancorp Stock Down 1.5%

Shares of NASDAQ NBTB traded down $0.66 during mid-day trading on Friday, reaching $43.11. The company had a trading volume of 187,745 shares, compared to its average volume of 237,241. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $2.04 billion, a PE ratio of 14.27 and a beta of 0.57. NBT Bancorp Inc. has a twelve month low of $37.31 and a twelve month high of $52.44. The stock's 50 day moving average is $42.37 and its 200-day moving average is $43.79.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. The company had revenue of $155.31 million for the quarter, compared to the consensus estimate of $151.00 million. NBT Bancorp had a return on equity of 9.57% and a net margin of 17.99%. During the same period last year, the business posted $0.68 earnings per share. As a group, equities analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Monday, June 2nd. NBT Bancorp's payout ratio is presently 45.03%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NBTB. Wall Street Zen lowered NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. DA Davidson cut their price objective on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Finally, Piper Sandler upgraded NBT Bancorp to a "neutral" rating and set a $47.00 price objective for the company in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, NBT Bancorp currently has a consensus rating of "Hold" and an average price target of $51.60.

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.