JPMorgan Chase & Co. Purchases 70,594 Shares of NBT Bancorp Inc. $NBTB

Key Points

• JPMorgan Chase raised its stake in NBT Bancorp by 26.7%, buying 70,594 shares to own 334,913 shares (about 0.64% of the company), valued at roughly $13.99 million at quarter-end.
• NBT beat quarterly estimates, reporting $1.05 EPS vs. $0.99 expected and $185.14M revenue, and announced a $0.37 quarterly dividend (3.4% yield) payable March 16.
• Analyst views are mixed — three Buy and three Hold ratings — giving NBT an overall "Moderate Buy" consensus with an average target price of $50.33 (DA Davidson set a $54 target).

JPMorgan Chase & Co. increased its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 26.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 334,913 shares of the bank's stock after buying an additional 70,594 shares during the period. JPMorgan Chase & Co. owned 0.64% of NBT Bancorp worth $13,986,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Amalgamated Bank raised its position in shares of NBT Bancorp by 1.9% in the 3rd quarter. Amalgamated Bank now owns 14,993 shares of the bank's stock worth $626,000 after acquiring an additional 282 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in NBT Bancorp by 7.0% during the second quarter. Ameritas Investment Partners Inc. now owns 5,150 shares of the bank's stock worth $214,000 after purchasing an additional 335 shares during the period. Asset Dedication LLC increased its holdings in NBT Bancorp by 6.1% in the second quarter. Asset Dedication LLC now owns 7,042 shares of the bank's stock worth $293,000 after purchasing an additional 402 shares in the last quarter. Stablepoint Partners LLC lifted its stake in NBT Bancorp by 4.9% in the second quarter. Stablepoint Partners LLC now owns 10,582 shares of the bank's stock valued at $440,000 after buying an additional 495 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of NBT Bancorp by 1,645.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank's stock worth $27,000 after buying an additional 609 shares in the last quarter. Institutional investors own 58.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NBTB shares. Weiss Ratings upgraded shares of NBT Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. Janney Montgomery Scott downgraded shares of NBT Bancorp from a "buy" rating to a "neutral" rating in a research note on Monday, February 23rd. DA Davidson started coverage on shares of NBT Bancorp in a report on Wednesday, February 25th. They set a "buy" rating and a $54.00 price objective on the stock. Finally, Brean Capital cut shares of NBT Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 20th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, NBT Bancorp currently has an average rating of "Moderate Buy" and an average target price of $50.33.

NBT Bancorp Stock Up 0.8%

NBT Bancorp stock opened at $43.01 on Thursday. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 13.03 and a beta of 0.50. The firm's fifty day moving average price is $43.93 and its two-hundred day moving average price is $42.79. NBT Bancorp Inc. has a 1-year low of $37.31 and a 1-year high of $46.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its earnings results on Monday, January 26th. The bank reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.06. The company had revenue of $185.14 million for the quarter, compared to analyst estimates of $183.63 million. NBT Bancorp had a net margin of 18.67% and a return on equity of 10.86%. On average, equities research analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.48 annualized dividend and a dividend yield of 3.4%. NBT Bancorp's payout ratio is presently 44.85%.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 4,435 shares of NBT Bancorp stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $45.72, for a total transaction of $202,768.20. Following the transaction, the executive vice president directly owned 21,500 shares of the company's stock, valued at $982,980. The trade was a 17.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy E. Delaney bought 22,730 shares of NBT Bancorp stock in a transaction dated Wednesday, January 28th. The stock was purchased at an average price of $42.97 per share, with a total value of $976,708.10. Following the purchase, the director owned 74,615 shares in the company, valued at approximately $3,206,206.55. This represents a 43.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 3.03% of the company's stock.

NBT Bancorp Profile

NBT Bancorp, Inc NASDAQ: NBTB is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.

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