NBT Bancorp Inc. (NASDAQ:NBTB) Holdings Cut by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its holdings in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 17.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,528 shares of the bank's stock after selling 19,143 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.19% of NBT Bancorp worth $3,841,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Leigh Baldwin & CO. LLC bought a new stake in NBT Bancorp during the fourth quarter worth approximately $52,606,000. Silvercrest Asset Management Group LLC acquired a new position in shares of NBT Bancorp during the 4th quarter valued at $38,978,000. Northern Trust Corp raised its stake in shares of NBT Bancorp by 4.9% in the 4th quarter. Northern Trust Corp now owns 726,413 shares of the bank's stock worth $34,693,000 after buying an additional 33,855 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of NBT Bancorp by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank's stock valued at $32,632,000 after buying an additional 75,693 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in NBT Bancorp by 8.1% during the fourth quarter. Victory Capital Management Inc. now owns 666,562 shares of the bank's stock valued at $31,835,000 after buying an additional 50,152 shares in the last quarter. Institutional investors own 58.46% of the company's stock.

Analyst Ratings Changes

NBTB has been the topic of several research reports. Wall Street Zen cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. DA Davidson dropped their target price 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, Hovde Group began coverage on shares of 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $52.75.

Insider Buying and Selling

In other NBT Bancorp news, Director Heidi M. Hoeller purchased 2,588 shares of the stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $42.88 per share, for a total transaction of $110,973.44. Following the completion of the acquisition, the director owned 11,578 shares of the company's stock, valued at $496,464.64. This represents a 28.79% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John H. Watt, Jr. sold 7,869 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the sale, the director owned 116,027 shares of the company's stock, valued at $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 purchased a total of 5,491 shares of company stock valued at $235,674 in the last ninety days. Company insiders own 3.03% of the company's stock.

NBT Bancorp Trading Down 0.8%

Shares of NBT Bancorp stock traded down $0.34 on Monday, reaching $41.55. 190,676 shares of the company were exchanged, compared to its average volume of 239,442. NBT Bancorp Inc. has a fifty-two week low of $37.31 and a fifty-two week high of $52.44. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 13.76 and a beta of 0.58. 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 stock has a fifty day moving average price of $42.12 and a 200-day moving average price of $44.29.

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 (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.04. NBT Bancorp had a return on equity of 9.57% and a net margin of 17.99%. The firm had revenue of $155.31 million for the quarter, compared to the consensus estimate of $151.00 million. During the same quarter in the previous year, the company earned $0.68 EPS. On average, analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.36 annualized dividend and a dividend yield of 3.27%. NBT Bancorp's dividend payout ratio (DPR) is presently 45.03%.

About NBT Bancorp

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.