Wealth Enhancement Advisory Services LLC Decreases Stock Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

Wealth Enhancement Advisory Services LLC decreased its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 24.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,671 shares of the bank's stock after selling 35,971 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.23% of NBT Bancorp worth $5,190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NBTB. Leigh Baldwin & CO. LLC bought a new stake in NBT Bancorp during the 4th quarter worth approximately $52,606,000. Silvercrest Asset Management Group LLC bought a new stake in shares of NBT Bancorp during the fourth quarter valued at approximately $38,978,000. Raymond James Financial Inc. bought a new stake in shares of NBT Bancorp during the fourth quarter valued at approximately $23,651,000. JPMorgan Chase & Co. raised its position in shares of NBT Bancorp by 307.0% during the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank's stock valued at $17,998,000 after buying an additional 284,267 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of NBT Bancorp during the fourth quarter valued at approximately $6,736,000. Institutional investors own 58.46% of the company's stock.

Insider Activity

In related news, Director Heidi M. Hoeller bought 2,553 shares of the stock in a transaction dated Tuesday, April 29th. The stock was purchased at an average cost of $43.21 per share, with a total value of $110,315.13. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $42.02, for a total transaction of $330,655.38. Following the sale, the director now directly owns 116,027 shares of the company's stock, valued at $4,875,454.54. This represents a 6.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 5,491 shares of company stock valued at $235,674. 3.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NBTB has been the topic of several recent analyst reports. DA Davidson reduced their price objective on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Wall Street Zen cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Hovde Group assumed coverage on shares of NBT Bancorp in a research report on Friday, March 21st. They issued a "market perform" rating and a $50.00 price target on the stock. 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 stock. According to data from MarketBeat.com, NBT Bancorp presently has a consensus rating of "Hold" and a consensus target price of $52.75.

NBT Bancorp Price Performance

NBTB traded up $0.76 during trading hours on Friday, hitting $41.80. The company's stock had a trading volume of 216,151 shares, compared to its average volume of 240,118. The business's 50-day moving average price is $41.64 and its 200-day moving average price is $45.39. NBT Bancorp Inc. has a 12 month low of $34.47 and a 12 month high of $52.44. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 14.12 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.04. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. The business had revenue of $155.31 million for the quarter, compared to analysts' expectations of $151.00 million. During the same quarter in the previous year, the business posted $0.68 earnings per share. Sell-side analysts expect that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 3.25%. The ex-dividend date of this dividend is Monday, June 2nd. NBT Bancorp's dividend payout ratio (DPR) is 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.