Wealth Enhancement Advisory Services LLC Sells 35,971 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Wealth Enhancement Advisory Services LLC reduced its position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 24.9% in the 4th quarter, according to its most recent filing with the SEC. 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 about 0.23% of NBT Bancorp worth $5,190,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Summit Investment Advisors Inc. grew its holdings 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 purchasing an additional 310 shares during the period. Bank of Montreal Can grew its position in shares of 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 buying an additional 461 shares in the last quarter. US Bancorp DE lifted its holdings in NBT Bancorp by 42.0% during the 4th 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. Smartleaf Asset Management LLC boosted its holdings in shares of NBT Bancorp by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank's stock valued at $132,000 after buying an additional 597 shares during the period. Finally, KBC Group NV boosted its holdings in shares of NBT Bancorp by 47.5% during the fourth quarter. KBC Group NV now owns 2,152 shares of the bank's stock valued at $103,000 after acquiring an additional 693 shares during the period. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NBTB. Hovde Group assumed coverage on NBT Bancorp in a research note on Friday, March 21st. They set a "market perform" rating and a $50.00 target price for the company. DA Davidson cut their price target on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Wall Street Zen lowered NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $52.75.

Insider Transactions at NBT Bancorp

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

NBT Bancorp Trading Down 1.2%

NASDAQ NBTB traded down $0.48 during trading hours on Wednesday, hitting $41.11. The company's stock had a trading volume of 190,677 shares, compared to its average volume of 238,706. NBT Bancorp Inc. has a twelve month low of $34.47 and a twelve month high of $52.44. The stock has a fifty day moving average of $41.73 and a 200 day moving average of $45.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.94 billion, a P/E ratio of 13.89 and a beta of 0.58.

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

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.36 annualized dividend and a dividend yield of 3.31%. NBT Bancorp's dividend payout ratio is currently 45.03%.

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.