Deutsche Bank AG Raises Stake in NBT Bancorp Inc. (NASDAQ:NBTB)

Deutsche Bank AG boosted its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 53.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,645 shares of the bank's stock after purchasing an additional 13,742 shares during the period. Deutsche Bank AG owned approximately 0.08% of NBT Bancorp worth $1,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of NBT Bancorp during the 4th quarter worth approximately $23,651,000. JPMorgan Chase & Co. grew its position in NBT Bancorp by 307.0% in the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank's stock worth $17,998,000 after acquiring an additional 284,267 shares during the period. Norges Bank acquired a new stake in NBT Bancorp during the fourth quarter worth $6,736,000. Great Lakes Advisors LLC purchased a new stake in NBT Bancorp in the fourth quarter valued at $4,294,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of NBT Bancorp by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank's stock valued at $32,632,000 after purchasing an additional 75,693 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Stock Up 0.2%

Shares of NBTB stock traded up $0.10 during 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. 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 Inc. has a 1-year low of $34.47 and a 1-year high of $52.44. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 14.20 and a beta of 0.58. The stock's 50-day moving average price is $41.86 and its 200 day moving average price is $45.72.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.04. The company had revenue of $155.31 million for the quarter, compared to analyst estimates of $151.00 million. NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same quarter last year, the company earned $0.68 EPS. On average, research analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

NBTB has been the topic of a number of recent analyst reports. Stephens raised shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 target price on the stock in a research report on Wednesday, January 29th. DA Davidson decreased their price objective on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Wall Street Zen cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Hovde Group initiated coverage on NBT Bancorp in a research report 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 given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $52.75.

Insiders Place Their Bets

In related 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 completion of the transaction, the director now owns 116,027 shares in the company, valued at approximately $4,875,454.54. The trade was a 6.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Heidi M. Hoeller purchased 2,588 shares of the firm's stock in a transaction 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 acquisition, the director now directly owns 11,578 shares in the company, valued at $496,464.64. The trade was 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 company insiders.

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.