Leigh Baldwin & CO. LLC Invests $1.17 Million in NBT Bancorp Inc. (NASDAQ:NBTB)

Leigh Baldwin & CO. LLC purchased a new stake in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,452 shares of the bank's stock, valued at approximately $1,168,000. NBT Bancorp accounts for about 0.6% of Leigh Baldwin & CO. LLC's investment portfolio, making the stock its 29th largest holding. Leigh Baldwin & CO. LLC owned 0.05% of NBT Bancorp at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Sterling Capital Management LLC boosted its holdings in shares of NBT Bancorp by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock valued at $69,000 after buying an additional 1,292 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in NBT Bancorp during the 4th quarter valued at $87,000. US Bancorp DE lifted its stake 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. Crews Bank & Trust purchased a new position in shares of NBT Bancorp during the fourth quarter valued at approximately $98,000. Finally, KBC Group NV lifted its position in NBT Bancorp by 47.5% during the fourth quarter. KBC Group NV now owns 2,152 shares of the bank's stock valued at $103,000 after purchasing an additional 693 shares during the period. Institutional investors own 58.46% of the company's stock.

NBT Bancorp Stock Up 0.0%

NASDAQ NBTB traded up $0.02 on Friday, reaching $42.06. 41,513 shares of the stock traded hands, compared to its average volume of 237,503. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 14.21 and a beta of 0.58. The company has a fifty day moving average price of $41.86 and a 200-day moving average price of $45.72. NBT Bancorp Inc. has a 12 month low of $34.47 and a 12 month high of $52.44.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.04. The business had revenue of $155.31 million for 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 business earned $0.68 EPS. As a group, research analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.34 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.36 annualized dividend and a dividend yield of 3.23%. NBT Bancorp's dividend payout ratio is presently 45.03%.

Insider Transactions at NBT Bancorp

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 shares were sold at an average price of $42.02, for a total transaction of $330,655.38. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Heidi M. Hoeller purchased 2,588 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average price of $42.88 per share, for a total transaction of $110,973.44. Following the purchase, the director now owns 11,578 shares in the company, valued at approximately $496,464.64. The trade was a 28.79% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NBTB shares. Wall Street Zen downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Hovde Group started coverage on NBT Bancorp in a research report on Friday, March 21st. They issued a "market perform" rating and a $50.00 price objective on the stock. Finally, DA Davidson dropped their price target on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, NBT Bancorp currently has a consensus rating of "Hold" and an average target price of $52.75.

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.