NBT Bancorp Inc. (NASDAQ:NBTB) Stake Lowered by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,599 shares of the bank's stock after selling 7,768 shares during the quarter. Ameriprise Financial Inc. owned 0.23% of NBT Bancorp worth $5,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Lido Advisors LLC raised its stake in shares of NBT Bancorp by 66.8% during the fourth quarter. Lido Advisors LLC now owns 8,008 shares of the bank's stock valued at $382,000 after purchasing an additional 3,206 shares during the period. Northern Trust Corp grew its holdings in NBT Bancorp by 4.9% during the 4th quarter. Northern Trust Corp now owns 726,413 shares of the bank's stock valued at $34,693,000 after purchasing an additional 33,855 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in NBT Bancorp during the 4th quarter worth $1,153,000. Price T Rowe Associates Inc. MD increased its stake in NBT Bancorp by 7.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,027 shares of the bank's stock worth $2,151,000 after buying an additional 2,988 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in NBT Bancorp in the 4th quarter worth $585,000. Institutional investors and hedge funds own 58.46% of the company's stock.

NBT Bancorp Stock Up 2.5%

NASDAQ:NBTB traded up $1.05 during mid-day trading on Tuesday, reaching $42.61. The stock had a trading volume of 135,783 shares, compared to its average volume of 238,086. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 14.40 and a beta of 0.58. NBT Bancorp Inc. has a 1-year low of $34.47 and a 1-year high of $52.44. The stock's 50 day simple moving average is $41.92 and its two-hundred day simple moving average is $45.83.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its 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. 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 the consensus estimate of $151.00 million. During the same quarter last year, the business posted $0.68 EPS. Equities analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Monday, June 2nd. NBT Bancorp's dividend payout ratio (DPR) is presently 45.03%.

Insiders Place Their Bets

In other NBT Bancorp news, Director Heidi M. Hoeller bought 2,588 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $42.88 per share, with a total value of $110,973.44. Following the completion of the acquisition, the director now owns 11,578 shares of the company's stock, valued at approximately $496,464.64. This trade represents a 28.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen lowered NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. DA Davidson reduced their target price 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 raised shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price target for the company in a research report on Wednesday, January 29th. Finally, Hovde Group started coverage on shares of NBT Bancorp in a research note on Friday, March 21st. They issued a "market perform" rating and a $50.00 price target for the company. 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 data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.