Jane Street Group LLC Sells 90,213 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Jane Street Group LLC cut its holdings in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 92.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,852 shares of the bank's stock after selling 90,213 shares during the period. Jane Street Group LLC's holdings in NBT Bancorp were worth $327,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NBTB. Lido Advisors LLC raised its position in shares of NBT Bancorp by 66.8% during the 4th 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 raised its position in shares of 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 during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of NBT Bancorp during the 4th quarter valued at $1,153,000. Price T Rowe Associates Inc. MD raised its position in shares of 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 valued at $2,151,000 after purchasing an additional 2,988 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in shares of NBT Bancorp during the 4th quarter valued at $585,000. 58.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Heidi M. Hoeller purchased 2,588 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $42.88 per share, with a total value of $110,973.44. Following the purchase, the director now owns 11,578 shares in the company, valued at approximately $496,464.64. This trade represents a 28.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John H. Watt, Jr. sold 7,869 shares of NBT Bancorp stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total transaction of $330,655.38. Following the transaction, the director now directly owns 116,027 shares of the company's stock, valued at approximately $4,875,454.54. This represents a 6.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 5,491 shares of company stock valued at $235,674 in the last three months. Corporate insiders own 3.03% of the company's stock.

Analysts Set New Price Targets

NBTB has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Hovde Group initiated coverage on shares of NBT Bancorp in a research report on Friday, March 21st. They set a "market perform" rating and a $50.00 price objective on the stock. Finally, 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 research report on Monday, April 28th. One 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $52.75.

NBT Bancorp Price Performance

NBTB traded down $0.07 during trading on Thursday, hitting $41.04. 160,016 shares of the company traded hands, compared to its average volume of 239,562. The company has a market cap of $1.94 billion, a PE ratio of 13.86 and a beta of 0.58. The stock's 50-day simple moving average is $41.65 and its two-hundred day simple moving average is $45.44. 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.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.04. The company had revenue of $155.31 million during the quarter, compared to analysts' expectations 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 last year, the company posted $0.68 earnings per share. As a group, sell-side analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid 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 3.31%. NBT Bancorp's payout ratio is currently 45.03%.

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.