SG Americas Securities LLC Buys New Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

SG Americas Securities LLC acquired a new stake in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,607 shares of the bank's stock, valued at approximately $884,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NBTB. Summit Investment Advisors Inc. raised its stake in shares of NBT Bancorp by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,815 shares of the bank's stock worth $230,000 after buying an additional 310 shares during the last quarter. Bank of Montreal Can raised its position in NBT Bancorp by 6.8% during the fourth quarter. Bank of Montreal Can now owns 7,278 shares of the bank's stock worth $348,000 after acquiring an additional 461 shares during the last quarter. US Bancorp DE raised its position in NBT Bancorp by 42.0% during the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank's stock worth $88,000 after acquiring an additional 543 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of NBT Bancorp by 27.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank's stock valued at $132,000 after purchasing an additional 597 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of NBT Bancorp by 0.8% in the fourth quarter. Swiss National Bank now owns 92,800 shares of the bank's stock valued at $4,432,000 after purchasing an additional 700 shares during the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Trading Down 0.7%

Shares of NASDAQ NBTB traded down $0.26 during midday trading on Friday, reaching $39.71. 586,897 shares of the stock were exchanged, compared to its average volume of 240,597. The stock has a 50 day moving average price of $41.91 and a 200-day moving average price of $44.74. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.88 billion, a P/E ratio of 13.15 and a beta of 0.58. NBT Bancorp Inc. has a 52-week low of $36.14 and a 52-week high of $52.44.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. The firm had revenue of $155.31 million during the quarter, compared to analysts' expectations of $151.00 million. NBT Bancorp had a net margin of 17.99% and a return on equity of 9.57%. During the same period in the previous year, the company earned $0.68 EPS. Equities research analysts expect that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Monday, June 2nd. NBT Bancorp's dividend payout ratio is currently 45.03%.

Analyst Upgrades and Downgrades

NBTB has been the subject of several research reports. Hovde Group began coverage on NBT Bancorp in a research report on Friday, March 21st. They set a "market perform" rating and a $50.00 price objective for the company. Wall Street Zen downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, DA Davidson reduced their price objective 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $52.75.

Insider Activity at NBT Bancorp

In related news, Director John H. Watt, Jr. sold 7,869 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $42.02, for a total value of $330,655.38. Following the sale, the director now directly owns 116,027 shares of the company's stock, valued at approximately $4,875,454.54. This trade represents a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Heidi M. Hoeller bought 2,553 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was bought at an average price of $43.21 per share, with a total value of $110,315.13. Following the completion of the acquisition, the director now owns 8,990 shares of the company's stock, valued at $388,457.90. This trade represents a 39.66% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 5,491 shares of company stock worth $235,674. 3.03% of the stock is currently owned by insiders.

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.