ProShare Advisors LLC increased its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 4.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 167,503 shares of the bank's stock after purchasing an additional 7,500 shares during the period. ProShare Advisors LLC owned approximately 0.36% of NBT Bancorp worth $8,000,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its holdings in shares of 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 buying an additional 1,292 shares during the last quarter. Rialto Wealth Management LLC bought a new position in NBT Bancorp during the fourth quarter worth $87,000. US Bancorp DE raised its stake in 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. Crews Bank & Trust bought a new stake in NBT Bancorp in the 4th quarter valued at $98,000. Finally, KBC Group NV grew its position in NBT Bancorp by 47.5% in the 4th quarter. KBC Group NV now owns 2,152 shares of the bank's stock worth $103,000 after purchasing an additional 693 shares during the last quarter. Institutional investors own 58.46% of the company's stock.
Analyst Ratings Changes
Several research firms recently weighed in on NBTB. 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 note on Wednesday, January 29th. StockNews.com lowered NBT Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday. Hovde Group assumed coverage on 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. Finally, DA Davidson reduced their target price on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, NBT Bancorp has a consensus rating of "Hold" and a consensus target price of $52.75.
Check Out Our Latest Stock Analysis on NBTB
Insider Buying and Selling
In other news, Director Heidi M. Hoeller bought 2,553 shares of the stock in a transaction dated Tuesday, April 29th. The stock was bought at an average cost of $43.21 per share, with a total value of $110,315.13. Following the purchase, the director now owns 8,990 shares of the company's stock, valued at approximately $388,457.90. This represents a 39.66% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 3.03% of the stock is owned by corporate insiders.
NBT Bancorp Price Performance
Shares of NBTB traded down $1.38 during mid-day trading on Wednesday, reaching $42.30. The company had a trading volume of 168,790 shares, compared to its average volume of 237,433. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $2.00 billion, a P/E ratio of 14.29 and a beta of 0.58. NBT Bancorp Inc. has a twelve month low of $34.47 and a twelve month high of $52.44. The company's 50-day moving average is $42.03 and its 200-day moving average is $45.98.
NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $151.00 million. During the same period in the prior year, the firm earned $0.68 earnings per share. On average, equities analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current year.
NBT Bancorp Dividend Announcement
The firm also recently declared 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. The ex-dividend date is Monday, June 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.22%. NBT Bancorp's dividend payout ratio is 45.03%.
NBT Bancorp Company Profile
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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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