Rhumbline Advisers Reduces Stock Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

Rhumbline Advisers decreased its position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 4.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 131,524 shares of the bank's stock after selling 6,348 shares during the period. Rhumbline Advisers owned about 0.28% of NBT Bancorp worth $5,642,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Legato Capital Management LLC boosted its stake in shares of NBT Bancorp by 102.7% during the fourth quarter. Legato Capital Management LLC now owns 14,835 shares of the bank's stock valued at $709,000 after acquiring an additional 7,515 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of NBT Bancorp by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 228,699 shares of the bank's stock valued at $10,923,000 after acquiring an additional 6,395 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of NBT Bancorp during the fourth quarter valued at $284,000. New York State Common Retirement Fund boosted its stake in shares of NBT Bancorp by 14.4% during the fourth quarter. New York State Common Retirement Fund now owns 15,887 shares of the bank's stock valued at $759,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of NBT Bancorp by 12.9% during the fourth quarter. Handelsbanken Fonder AB now owns 10,495 shares of the bank's stock valued at $501,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on NBTB shares. Hovde Group started coverage on NBT Bancorp in a research note on Friday, March 21st. They set a "market perform" rating and a $50.00 price objective on the stock. DA Davidson reduced their target price on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Wall Street Zen downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $52.75.

NBT Bancorp Trading Down 1.0%

NASDAQ NBTB traded down $0.40 during trading hours on Monday, hitting $40.36. 252,248 shares of the company's stock were exchanged, compared to its average volume of 240,040. The business's 50 day moving average is $41.88 and its 200-day moving average is $44.97. NBT Bancorp Inc. has a 12-month low of $35.20 and a 12-month high of $52.44. The firm has a market capitalization of $1.91 billion, a P/E ratio of 13.64 and a beta of 0.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its earnings results 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 return on equity of 9.39% and a net margin of 17.84%. The firm had revenue of $155.31 million for the quarter, compared to the consensus estimate of $151.00 million. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.37%. NBT Bancorp's dividend payout ratio (DPR) is 45.03%.

Insider Transactions 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 stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the transaction, the director now directly owns 116,027 shares in the company, valued at $4,875,454.54. This trade represents a 6.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Heidi M. Hoeller acquired 2,588 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $42.88 per share, for a total transaction of $110,973.44. Following the completion of the acquisition, the director now owns 11,578 shares in the company, valued at approximately $496,464.64. This trade represents a 28.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 5,491 shares of company stock worth $235,674 in the last three months. 3.03% of the stock is currently owned by company insiders.

NBT Bancorp Company 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.