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

MQS Management LLC bought a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 7,556 shares of the bank's stock, valued at approximately $324,000.

Several other large investors have also made changes to their positions in NBTB. TD Private Client Wealth LLC increased its holdings in NBT Bancorp by 51.3% during the 1st quarter. TD Private Client Wealth LLC now owns 867 shares of the bank's stock valued at $37,000 after purchasing an additional 294 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of NBT Bancorp by 817.7% in the fourth 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. Cloud Capital Management LLC acquired a new stake in shares of NBT Bancorp in the first quarter valued at $68,000. US Bancorp DE raised its holdings in shares of NBT Bancorp by 42.0% in the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank's stock valued at $88,000 after buying an additional 543 shares during the last quarter. Finally, KBC Group NV lifted its position in NBT Bancorp by 28.4% during the 1st quarter. KBC Group NV now owns 2,763 shares of the bank's stock worth $119,000 after buying an additional 611 shares in the last quarter. Institutional investors own 58.46% of the company's stock.

NBT Bancorp Stock Performance

Shares of NASDAQ NBTB traded down $0.56 during trading hours on Friday, reaching $43.21. 83,250 shares of the stock were exchanged, compared to its average volume of 237,895. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. The stock's fifty day simple moving average is $42.37 and its 200 day simple moving average is $43.85. NBT Bancorp Inc. has a 52 week low of $37.31 and a 52 week high of $52.44. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 14.31 and a beta of 0.57.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.76 by $0.04. The firm had revenue of $155.31 million for 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 period last year, the firm earned $0.68 EPS. Sell-side 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 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 3.15%. NBT Bancorp's dividend payout ratio (DPR) is presently 45.03%.

Insider Activity

In other news, Director Heidi M. Hoeller bought 2,588 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average price of $42.88 per share, with a total value of $110,973.44. Following the completion of the purchase, the director directly owned 11,578 shares of the company's stock, valued at approximately $496,464.64. This represents a 28.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director John H. Watt, Jr. sold 7,869 shares of the firm'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 completion of the transaction, the director directly owned 116,027 shares in the company, valued at $4,875,454.54. This trade represents a 6.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 5,491 shares of company stock valued at $235,674. Insiders own 3.03% of the company's stock.

Analysts Set New Price Targets

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

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.