Cerity Partners LLC Invests $619,000 in NBT Bancorp Inc. (NASDAQ:NBTB)

Cerity Partners LLC purchased a new stake in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,440 shares of the bank's stock, valued at approximately $619,000.

A number of other institutional investors have also recently made changes to their positions in the stock. TD Private Client Wealth LLC grew its position in shares of NBT Bancorp by 51.3% in the 1st quarter. TD Private Client Wealth LLC now owns 867 shares of the bank's stock valued at $37,000 after buying an additional 294 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of NBT Bancorp by 30.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 17,275 shares of the bank's stock valued at $741,000 after buying an additional 4,071 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of NBT Bancorp in the 1st quarter valued at about $68,000. Principal Financial Group Inc. grew its position in shares of NBT Bancorp by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 234,849 shares of the bank's stock valued at $10,075,000 after buying an additional 6,150 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of NBT Bancorp during the 1st quarter valued at about $323,000. Institutional investors own 58.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NBTB. Piper Sandler upgraded NBT Bancorp to a "neutral" rating and set a $47.00 target price on the stock in a research report on Tuesday, July 8th. Wall Street Zen lowered NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, DA Davidson cut their target price 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 assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $51.60.

Insider Activity at NBT Bancorp

In other news, Director John H. Watt, Jr. sold 7,869 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the completion of the sale, the director directly owned 116,027 shares of the company's stock, valued at $4,875,454.54. This represents a 6.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Heidi M. Hoeller purchased 2,588 shares of the firm's 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 completion of the transaction, the director directly owned 11,578 shares of the company's stock, valued at $496,464.64. The trade was a 28.79% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 5,491 shares of company stock valued at $235,674. Company insiders own 3.03% of the company's stock.

NBT Bancorp Stock Down 0.4%

NBTB stock traded down $0.17 during trading on Friday, reaching $41.38. 175,118 shares of the stock were exchanged, compared to its average volume of 197,397. The firm's 50 day moving average is $42.20 and its 200 day moving average is $43.67. NBT Bancorp Inc. has a twelve month low of $37.31 and a twelve month high of $52.44. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.96 billion, a P/E ratio of 13.70 and a beta of 0.57.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.04. The business 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 in the prior year, the business earned $0.68 EPS. As a group, research analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Monday, June 2nd. NBT Bancorp's dividend payout ratio (DPR) is presently 45.03%.

NBT Bancorp Company 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.