Ameriprise Financial Inc. Cuts Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Ameriprise Financial Inc. cut its position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,599 shares of the bank's stock after selling 7,768 shares during the period. Ameriprise Financial Inc. owned 0.23% of NBT Bancorp worth $5,139,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in shares of NBT Bancorp by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock valued at $69,000 after buying an additional 1,292 shares during the period. Rialto Wealth Management LLC acquired a new stake in shares of NBT Bancorp in the 4th quarter valued at about $87,000. US Bancorp DE grew its stake in shares of NBT Bancorp by 42.0% in the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank's stock valued at $88,000 after buying an additional 543 shares during the period. Crews Bank & Trust acquired a new position in NBT Bancorp during the 4th quarter valued at about $98,000. Finally, KBC Group NV boosted its stake 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 purchasing an additional 693 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Stock Performance

Shares of NASDAQ NBTB traded up $0.10 during midday trading on Thursday, reaching $42.04. The company's stock had a trading volume of 108,098 shares, compared to its average volume of 238,263. NBT Bancorp Inc. has a 12-month low of $34.47 and a 12-month high of $52.44. The firm has a 50 day moving average price of $41.86 and a 200-day moving average price of $45.72. The stock has a market capitalization of $1.99 billion, a P/E ratio of 14.20 and a beta of 0.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted 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 company had revenue of $155.31 million for the quarter, compared to analysts' expectations of $151.00 million. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter in the previous year, the firm posted $0.68 EPS. As a group, equities analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.24%. NBT Bancorp's dividend payout ratio (DPR) is presently 45.03%.

Insider Buying and Selling

In other NBT Bancorp news, Director John H. Watt, Jr. sold 7,869 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $42.02, for a total transaction of $330,655.38. Following the sale, the director now owns 116,027 shares of the company's stock, valued at $4,875,454.54. The trade was a 6.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Heidi M. Hoeller bought 2,588 shares of the stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $42.88 per share, for a total transaction of $110,973.44. Following the acquisition, the director now directly owns 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 disclosure for this purchase can be found here. 3.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NBTB shares. Wall Street Zen downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. DA Davidson cut their price target on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Stephens upgraded NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 target price on the stock in a research note on Wednesday, January 29th. Finally, Hovde Group assumed coverage on NBT Bancorp in a research note on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, NBT Bancorp currently has a consensus rating of "Hold" and an average target price of $52.75.

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.