SG Americas Securities LLC Boosts Position in NBT Bancorp Inc. $NBTB

Key Points

• SG Americas Securities LLC increased its NBT Bancorp stake by 61.3% in the first quarter, ending with 115,900 shares worth about $4.94 million. Institutional ownership remains high, with hedge funds and other institutions holding 58.46% of the stock.
• NBT Bancorp shares were down 0.8% to $49.17, near the top of their 52-week range. The stock currently carries a market cap of $2.56 billion and trades at a P/E of 14.01.
• The company missed quarterly earnings estimates by a penny, reporting $0.97 EPS versus $0.98 expected, while revenue also came in slightly below forecasts. NBT Bancorp also paid a quarterly dividend of $0.37 per share, implying a 3.0% annual yield.

SG Americas Securities LLC grew its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 61.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,900 shares of the bank's stock after buying an additional 44,048 shares during the quarter. SG Americas Securities LLC owned 0.22% of NBT Bancorp worth $4,935,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position in shares of NBT Bancorp by 1,645.9% in the second quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank's stock worth $27,000 after buying an additional 609 shares during the period. Larson Financial Group LLC raised its stake in shares of NBT Bancorp by 13,316.7% during the third quarter. Larson Financial Group LLC now owns 805 shares of the bank's stock valued at $34,000 after purchasing an additional 799 shares during the period. Global Retirement Partners LLC lifted its position in shares of NBT Bancorp by 62.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank's stock worth $43,000 after purchasing an additional 399 shares in the last quarter. Allworth Financial LP acquired a new stake in NBT Bancorp during the 3rd quarter valued at $46,000. Finally, Quadrant Capital Group LLC acquired a new position in NBT Bancorp in the 4th quarter worth $64,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Stock Down 0.8%

Shares of NBT Bancorp stock opened at $49.17 on Tuesday. The business has a 50-day moving average price of $46.00 and a 200 day moving average price of $44.38. NBT Bancorp Inc. has a fifty-two week low of $39.19 and a fifty-two week high of $49.98. The firm has a market cap of $2.56 billion, a P/E ratio of 14.01 and a beta of 0.49. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The firm had revenue of $184.48 million during the quarter, compared to analyst estimates of $185.35 million. On average, sell-side analysts forecast that NBT Bancorp Inc. will post 4.14 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, June 1st. NBT Bancorp's payout ratio is currently 42.17%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NBTB shares. DA Davidson reiterated a "buy" rating and issued a $52.00 price target on shares of NBT Bancorp in a research note on Monday, April 27th. Weiss Ratings upgraded NBT Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. Piper Sandler lifted their price objective on NBT Bancorp from $50.00 to $56.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Hovde Group reduced their target price on NBT Bancorp from $47.00 to $46.50 and set a "market perform" rating for the company in a research note on Monday, April 27th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, NBT Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $51.50.

Insider Buying and Selling at NBT Bancorp

In other news, Director Heidi M. Hoeller sold 2,100 shares of NBT Bancorp stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $48.03, for a total value of $100,863.00. Following the completion of the transaction, the director directly owned 11,560 shares of the company's stock, valued at approximately $555,226.80. The trade was a 15.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ruth H. Mahoney sold 5,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $46.60, for a total transaction of $233,000.00. Following the sale, the executive vice president directly owned 16,428 shares of the company's stock, valued at approximately $765,544.80. This represents a 23.33% decrease in their position. The SEC filing for this sale provides additional information. 2.99% of the stock is owned by insiders.

NBT Bancorp Profile

NBT Bancorp, Inc NASDAQ: NBTB is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.

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