ProShare Advisors LLC Raises Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

ProShare Advisors LLC grew its position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,503 shares of the bank's stock after buying an additional 7,500 shares during the period. ProShare Advisors LLC owned 0.36% of NBT Bancorp worth $8,000,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NBTB. Leigh Baldwin & CO. LLC purchased a new stake in NBT Bancorp in the 4th quarter valued at about $52,606,000. Northern Trust Corp increased its position in shares of NBT Bancorp by 4.9% during the fourth quarter. Northern Trust Corp now owns 726,413 shares of the bank's stock valued at $34,693,000 after acquiring an additional 33,855 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 valued at $32,632,000 after acquiring an additional 75,693 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of NBT Bancorp by 8.1% in the 4th quarter. Victory Capital Management Inc. now owns 666,562 shares of the bank's stock valued at $31,835,000 after acquiring an additional 50,152 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of NBT Bancorp by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 595,349 shares of the bank's stock valued at $28,434,000 after acquiring an additional 9,713 shares during the period. Institutional investors and hedge funds own 58.46% of the company's stock.

NBT Bancorp Stock Down 0.9%

Shares of NBTB stock traded down $0.38 during trading on Friday, reaching $41.45. The company's stock had a trading volume of 33,646 shares, compared to its average volume of 237,266. NBT Bancorp Inc. has a 1-year low of $34.47 and a 1-year high of $52.44. The stock's 50-day moving average price is $41.99 and its 200 day moving average price is $45.96. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 14.01 and a beta of 0.58. 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 (NASDAQ:NBTB - Get Free Report) last issued its quarterly 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 company had revenue of $155.31 million during the quarter, compared to analysts' expectations of $151.00 million. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter last year, the company posted $0.68 EPS. On average, research analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently announced 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 yield of 3.28%. NBT Bancorp's dividend payout ratio (DPR) is presently 45.03%.

Insider Buying and Selling

In related news, Director Heidi M. Hoeller purchased 2,553 shares of NBT Bancorp stock in a transaction on Tuesday, April 29th. The shares were bought at an average price of $43.21 per share, with a total value of $110,315.13. Following the transaction, the director now directly owns 8,990 shares of the company's stock, valued at approximately $388,457.90. This trade represents a 39.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NBTB. Wall Street Zen cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday. DA Davidson lowered their price target 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. 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 objective for the company. Finally, Stephens upgraded NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price objective on the stock in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $52.75.

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.