NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 45.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,585 shares of the bank's stock after selling 7,031 shares during the period. BNP Paribas Financial Markets' holdings in NBT Bancorp were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NBTB. Raymond James Financial Inc. acquired a new position in NBT Bancorp during the fourth quarter worth $23,651,000. JPMorgan Chase & Co. raised its position in NBT Bancorp by 307.0% during the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank's stock worth $17,998,000 after acquiring an additional 284,267 shares during the period. Norges Bank acquired a new position in NBT Bancorp during the fourth quarter worth $6,736,000. Great Lakes Advisors LLC acquired a new position in NBT Bancorp during the fourth quarter worth $4,294,000. Finally, Bank of New York Mellon Corp raised its position in 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 acquiring an additional 75,693 shares during the period. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NBTB shares. Hovde Group started coverage on shares of NBT Bancorp in a research report on Friday, March 21st. They set a "market perform" rating and a $50.00 price objective for the company. Wall Street Zen cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. DA Davidson reduced their target price on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Finally, Stephens upgraded shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 target price for the company in a research report on Wednesday, January 29th. 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. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $52.75.

Insider Activity at NBT Bancorp

In other news, Director John H. Watt, Jr. sold 7,869 shares of the 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 sale, the director now owns 116,027 shares of the company's stock, valued at approximately $4,875,454.54. This represents a 6.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Heidi M. Hoeller bought 2,553 shares of NBT Bancorp stock in a transaction that occurred on Tuesday, April 29th. The stock was purchased at an average cost of $43.21 per share, for a total transaction of $110,315.13. Following the acquisition, the director now owns 8,990 shares of the company's stock, valued at $388,457.90. This represents a 39.66% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.03% of the stock is currently owned by insiders.

NBT Bancorp Trading Up 0.1%

Shares of NBTB traded up $0.05 during mid-day trading on Thursday, reaching $41.99. The stock had a trading volume of 44,634 shares, compared to its average volume of 237,553. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. NBT Bancorp Inc. has a 52-week low of $34.47 and a 52-week high of $52.44. The business's fifty day moving average is $41.89 and its 200 day moving average is $45.78. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 14.19 and a beta of 0.58.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.04. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. The firm had revenue of $155.31 million during the quarter, compared to analyst estimates of $151.00 million. During the same quarter in the prior year, the firm posted $0.68 earnings per share. On average, sell-side analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Monday, June 2nd. 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.