New Age Alpha Advisors LLC decreased its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 13.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,254 shares of the bank's stock after selling 8,727 shares during the quarter. New Age Alpha Advisors LLC owned 0.12% of NBT Bancorp worth $2,456,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Leigh Baldwin & CO. LLC bought a new position in shares of NBT Bancorp during the fourth quarter valued at about $52,606,000. Silvercrest Asset Management Group LLC bought a new stake in NBT Bancorp in the 4th quarter valued at $38,978,000. Northern Trust Corp grew its position in shares of NBT Bancorp by 4.9% in the 4th quarter. Northern Trust Corp now owns 726,413 shares of the bank's stock worth $34,693,000 after buying an additional 33,855 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of NBT Bancorp by 4.7% in the 1st quarter. Victory Capital Management Inc. now owns 697,879 shares of the bank's stock valued at $29,939,000 after purchasing an additional 31,317 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of NBT Bancorp in the fourth quarter valued at about $23,651,000. Institutional investors and hedge funds own 58.46% of the company's stock.
Insider Buying and Selling at NBT Bancorp
In other news, Director John H. Watt, Jr. sold 7,869 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were 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 of the company's stock, valued at approximately $4,875,454.54. This trade represents a 6.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.03% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on NBTB. Wall Street Zen raised NBT Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. DA Davidson raised their price target on NBT Bancorp from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Piper Sandler raised NBT Bancorp to a "neutral" rating and set a $47.00 target price on the stock in a research note on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $52.00.
Check Out Our Latest Stock Report on NBT Bancorp
NBT Bancorp Price Performance
NASDAQ NBTB traded down $0.18 during trading on Monday, reaching $40.77. The company's stock had a trading volume of 14,295 shares, compared to its average volume of 243,715. The stock has a market capitalization of $1.93 billion, a PE ratio of 14.75 and a beta of 0.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a fifty day moving average of $41.93 and a 200 day moving average of $43.18. NBT Bancorp Inc. has a one year low of $37.31 and a one year high of $52.44.
NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its earnings results on Monday, July 28th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. The company had revenue of $171.15 million during the quarter, compared to analyst estimates of $171.04 million. NBT Bancorp had a return on equity of 9.81% and a net margin of 16.10%. Analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.
NBT Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from NBT Bancorp's previous quarterly dividend of $0.34. NBT Bancorp's dividend payout ratio (DPR) is currently 49.10%.
About NBT Bancorp
(
Free Report)
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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