NBT Bancorp Inc. (NASDAQ:NBTB) Holdings Decreased by Jane Street Group LLC

Jane Street Group LLC cut its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 92.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,852 shares of the bank's stock after selling 90,213 shares during the quarter. Jane Street Group LLC's holdings in NBT Bancorp were worth $327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its stake in NBT Bancorp by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock worth $69,000 after purchasing an additional 1,292 shares during the last quarter. Rialto Wealth Management LLC bought a new position in shares of NBT Bancorp in the 4th quarter worth approximately $87,000. US Bancorp DE lifted its position in NBT Bancorp by 42.0% during the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank's stock valued at $88,000 after acquiring an additional 543 shares during the period. KBC Group NV increased its position 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 buying an additional 693 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in NBT Bancorp by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank's stock worth $132,000 after purchasing an additional 597 shares in the last quarter. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John H. Watt, Jr. sold 7,869 shares of the business's stock in a transaction 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 transaction, the director now directly owns 116,027 shares of the company's stock, valued at $4,875,454.54. The trade was a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Heidi M. Hoeller purchased 2,588 shares of the stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price 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 represents a 28.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.03% of the company's stock.

NBT Bancorp Trading Up 1.4%

NASDAQ NBTB traded up $0.58 during trading hours on Tuesday, reaching $41.59. The company had a trading volume of 167,720 shares, compared to its average volume of 238,425. The stock has a 50-day moving average of $41.77 and a 200 day moving average of $45.55. NBT Bancorp Inc. has a 1-year low of $34.47 and a 1-year high of $52.44. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.97 billion, a P/E ratio of 14.05 and a beta of 0.58.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share (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 during the quarter, compared to the consensus estimate of $151.00 million. During the same period in the previous year, the business earned $0.68 EPS. As a group, research analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 3.27%. NBT Bancorp's dividend payout ratio is presently 45.03%.

Analysts Set New Price Targets

Several research analysts have issued reports on NBTB shares. Wall Street Zen cut NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. 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 on the stock. Finally, DA Davidson lowered their price objective on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Monday, April 28th. One equities research 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 MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $52.75.

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.