Voloridge Investment Management LLC Grows Stock Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

Voloridge Investment Management LLC grew its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 48.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 36,179 shares of the bank's stock after acquiring an additional 11,730 shares during the quarter. Voloridge Investment Management LLC owned about 0.08% of NBT Bancorp worth $1,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC raised its position in NBT Bancorp by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock valued at $69,000 after purchasing an additional 1,292 shares during the period. Rialto Wealth Management LLC purchased a new stake in NBT Bancorp during the 4th quarter valued at $87,000. US Bancorp DE lifted its position in NBT Bancorp by 42.0% in the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank's stock worth $88,000 after buying an additional 543 shares during the last quarter. Crews Bank & Trust bought a new stake in NBT Bancorp in the fourth quarter worth $98,000. Finally, KBC Group NV boosted its stake in NBT Bancorp by 47.5% during the fourth quarter. KBC Group NV now owns 2,152 shares of the bank's stock worth $103,000 after buying an additional 693 shares during the period. 58.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other NBT Bancorp news, Director Heidi M. Hoeller acquired 2,553 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were bought at an average cost of $43.21 per share, with a total value of $110,315.13. Following the completion of the acquisition, the director now directly owns 8,990 shares in the company, valued at $388,457.90. This represents a 39.66% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John H. Watt, Jr. sold 7,869 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the completion of the transaction, the director now directly owns 116,027 shares of the company's stock, valued at approximately $4,875,454.54. The trade was a 6.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of NBT Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Hovde Group assumed coverage on shares of 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, DA Davidson dropped 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 investment 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.com, the company has a consensus rating of "Hold" and a consensus target price of $52.75.

NBT Bancorp Trading Down 2.0%

Shares of NASDAQ:NBTB traded down $0.84 on Monday, hitting $41.01. 168,825 shares of the company's stock were exchanged, compared to its average volume of 238,708. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 13.85 and a beta of 0.58. NBT Bancorp Inc. has a 12 month low of $34.47 and a 12 month high of $52.44. 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 business's 50 day simple moving average is $41.77 and its two-hundred day simple moving average is $45.55.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly 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 company had revenue of $155.31 million for the quarter, compared to the consensus estimate 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 firm posted $0.68 EPS. Analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, June 2nd. NBT Bancorp's dividend payout ratio (DPR) is presently 45.03%.

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.