Lisanti Capital Growth LLC Has $1.39 Million Stock Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Lisanti Capital Growth LLC trimmed its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 51.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Summit Investment Advisors Inc. boosted its holdings in shares of NBT Bancorp by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,815 shares of the bank's stock valued at $230,000 after acquiring an additional 310 shares in the last quarter. Bank of Montreal Can increased its position in shares of NBT Bancorp by 6.8% during the 4th quarter. Bank of Montreal Can now owns 7,278 shares of the bank's stock valued at $348,000 after purchasing an additional 461 shares during the period. US Bancorp DE raised its stake in shares of NBT Bancorp by 42.0% in the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank's stock worth $88,000 after buying an additional 543 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of NBT Bancorp by 27.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank's stock valued at $132,000 after buying an additional 597 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of NBT Bancorp by 0.8% in the fourth quarter. Swiss National Bank now owns 92,800 shares of the bank's stock valued at $4,432,000 after buying an additional 700 shares during the period. 58.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Hovde Group initiated coverage on NBT Bancorp in a report on Friday, March 21st. They set a "market perform" rating and a $50.00 target price on the stock. Wall Street Zen lowered shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, DA Davidson dropped their target price on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $52.75.

Insider Buying and Selling

In other NBT Bancorp news, Director Heidi M. Hoeller acquired 2,588 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $42.88 per share, for a total transaction of $110,973.44. Following the transaction, the director owned 11,578 shares of the company's stock, valued at $496,464.64. The trade was a 28.79% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John H. Watt, Jr. sold 7,869 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 116,027 shares in the company, valued at approximately $4,875,454.54. This represents a 6.35% decrease in their position. The disclosure for this sale can be found here. Insiders have bought 5,491 shares of company stock worth $235,674 in the last 90 days. 3.03% of the stock is owned by company insiders.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB traded up $0.62 during mid-day trading on Wednesday, reaching $43.44. The company had a trading volume of 247,796 shares, compared to its average volume of 239,733. The company has a 50-day moving average price of $42.15 and a two-hundred day moving average price of $44.28. The stock has a market cap of $2.05 billion, a PE ratio of 14.38 and a beta of 0.57. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. NBT Bancorp Inc. has a 1-year low of $37.31 and a 1-year high of $52.44.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.04. The firm had revenue of $155.31 million for the quarter, compared to analysts' expectations of $151.00 million. NBT Bancorp had a return on equity of 9.57% and a net margin of 17.99%. During the same quarter last year, the business posted $0.68 EPS. On average, equities analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.13%. NBT Bancorp's dividend payout ratio is currently 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.