NBT Bancorp Inc. (NASDAQ:NBTB) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 4,554.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,275 shares of the bank's stock after purchasing an additional 58,980 shares during the quarter. GAMMA Investing LLC owned about 0.13% of NBT Bancorp worth $2,586,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NBTB. Sterling Capital Management LLC raised its holdings in NBT Bancorp by 817.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock valued at $69,000 after acquiring an additional 1,292 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in NBT Bancorp in the fourth quarter valued at approximately $87,000. US Bancorp DE raised its holdings in NBT Bancorp by 42.0% in the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank's stock valued at $88,000 after acquiring an additional 543 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in NBT Bancorp by 27.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank's stock valued at $132,000 after acquiring an additional 597 shares in the last quarter. Finally, First National Bank & Trust Co. of Newtown acquired a new stake in NBT Bancorp in the fourth quarter valued at approximately $202,000. Institutional investors and hedge funds own 58.46% of the company's stock.

Insider Transactions at NBT Bancorp

In other news, Director Heidi M. Hoeller acquired 2,588 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $42.88 per share, for a total transaction of $110,973.44. Following the transaction, the director now directly owns 11,578 shares in the company, valued at approximately $496,464.64. This represents a 28.79% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John H. Watt, Jr. sold 7,869 shares of NBT Bancorp 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. This trade represents a 6.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 5,491 shares of company stock worth $235,674. Insiders own 3.03% of the company's stock.

NBT Bancorp Stock Down 1.0%

NBT Bancorp stock traded down $0.40 during mid-day trading on Monday, hitting $40.36. The company had a trading volume of 252,248 shares, compared to its average volume of 240,040. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 13.64 and a beta of 0.58. NBT Bancorp Inc. has a 1 year low of $35.20 and a 1 year high of $52.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $41.88 and a 200 day moving average of $44.97.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 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 analyst estimates of $151.00 million. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same period in the prior year, the firm posted $0.68 earnings per share. On average, sell-side analysts expect that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.34 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.37%. NBT Bancorp's dividend payout ratio (DPR) is presently 45.03%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NBTB shares. Hovde Group started coverage on shares of NBT Bancorp in a report on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price on the stock. DA Davidson reduced their target price 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. Finally, Wall Street Zen cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $52.75.

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.