MQS Management LLC Buys Shares of 7,556 NBT Bancorp Inc. (NASDAQ:NBTB)

MQS Management LLC acquired a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,556 shares of the bank's stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC lifted its holdings in shares of NBT Bancorp by 51.3% during the 1st quarter. TD Private Client Wealth LLC now owns 867 shares of the bank's stock worth $37,000 after acquiring an additional 294 shares during the last quarter. Sterling Capital Management LLC lifted its stake in NBT Bancorp by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock worth $69,000 after purchasing an additional 1,292 shares during the last quarter. Cloud Capital Management LLC purchased a new position in shares of NBT Bancorp in the 1st quarter worth about $68,000. US Bancorp DE increased its position in shares of 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 purchasing an additional 543 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of NBT Bancorp by 28.4% during the 1st quarter. KBC Group NV now owns 2,763 shares of the bank's stock valued at $119,000 after buying an additional 611 shares in the last quarter. Institutional investors own 58.46% of the company's stock.

NBT Bancorp Price Performance

NASDAQ NBTB traded up $0.66 during trading on Thursday, hitting $43.77. 230,465 shares of the stock traded hands, compared to its average volume of 238,896. The firm has a 50-day simple moving average of $42.36 and a 200-day simple moving average of $43.88. NBT Bancorp Inc. has a 12-month low of $37.31 and a 12-month high of $52.44. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.07 billion, a P/E ratio of 14.49 and a beta of 0.57.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $155.31 million during the quarter, compared to analyst estimates of $151.00 million. NBT Bancorp had a net margin of 17.99% and a return on equity of 9.57%. During the same quarter last year, the business posted $0.68 EPS. As a group, analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Monday, June 2nd. NBT Bancorp's payout ratio is presently 45.03%.

Analyst Upgrades and Downgrades

Several brokerages have commented on NBTB. Wall Street Zen lowered shares of NBT Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Hovde Group began coverage on NBT Bancorp in a research note on Friday, March 21st. They issued a "market perform" rating and a $50.00 price target on the stock. DA Davidson decreased their price objective on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Piper Sandler upgraded shares of NBT Bancorp to a "neutral" rating and set a $47.00 target price on the stock in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $51.60.

Insider Buying and Selling at NBT Bancorp

In other news, Director Heidi M. Hoeller bought 2,588 shares of the stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average cost of $42.88 per share, with a total value of $110,973.44. Following the purchase, the director directly owned 11,578 shares in the company, valued at $496,464.64. The trade was a 28.79% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John H. Watt, Jr. sold 7,869 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the transaction, the director owned 116,027 shares in the company, valued at $4,875,454.54. This represents a 6.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 5,491 shares of company stock valued at $235,674. Company insiders own 3.03% of the company's stock.

NBT Bancorp Company 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.