Lisanti Capital Growth LLC Trims Stock Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Lisanti Capital Growth LLC lessened its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 51.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,350 shares of the bank's stock after selling 33,685 shares during the period. Lisanti Capital Growth LLC owned approximately 0.07% of NBT Bancorp worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of NBT Bancorp by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank's stock worth $32,632,000 after purchasing an additional 75,693 shares during the last quarter. SG Americas Securities LLC purchased a new position in NBT Bancorp in the first quarter valued at $884,000. Sanctuary Advisors LLC purchased a new position in NBT Bancorp in the fourth quarter valued at $284,000. Deutsche Bank AG increased its holdings in NBT Bancorp by 53.1% in the fourth quarter. Deutsche Bank AG now owns 39,645 shares of the bank's stock valued at $1,893,000 after buying an additional 13,742 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in NBT Bancorp by 8.1% in the fourth quarter. Victory Capital Management Inc. now owns 666,562 shares of the bank's stock valued at $31,835,000 after buying an additional 50,152 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have 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 price objective for the company. DA Davidson cut their price objective on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating for the company 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 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $52.75.

Insider Activity

In related news, Director John H. Watt, Jr. sold 7,869 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were 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 in the company, valued at approximately $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 can be accessed through the SEC website. Also, Director Heidi M. Hoeller purchased 2,553 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were acquired at an average price of $43.21 per share, for a total transaction of $110,315.13. Following the completion of the transaction, the director now directly owns 8,990 shares of the company's stock, valued at $388,457.90. The trade was a 39.66% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,491 shares of company stock worth $235,674 over the last 90 days. 3.03% of the stock is currently owned by company insiders.

NBT Bancorp Stock Up 0.4%

Shares of NASDAQ NBTB opened at $41.89 on Friday. The company's 50-day simple moving average is $42.08 and its 200-day simple moving average is $44.41. NBT Bancorp Inc. has a 52-week low of $37.31 and a 52-week high of $52.44. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 13.87 and a beta of 0.58. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.15.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. NBT Bancorp had a net margin of 17.99% and a return on equity of 9.57%. The business had revenue of $155.31 million for the quarter, compared to analyst estimates of $151.00 million. During the same quarter last year, the business earned $0.68 earnings per share. Equities analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.34 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.36 annualized dividend and a dividend yield of 3.25%. NBT Bancorp's dividend payout ratio (DPR) is 45.03%.

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.

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