NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its holdings in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 17.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in NBT Bancorp by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock worth $69,000 after buying an additional 1,292 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of NBT Bancorp during the 4th quarter worth about $87,000. US Bancorp DE boosted its stake in shares of 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 acquiring an additional 543 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of NBT Bancorp by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank's stock valued at $132,000 after acquiring an additional 597 shares during the period. Finally, Cibc World Markets Corp purchased a new position in shares of NBT Bancorp in the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 58.46% of the company's stock.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB traded up $0.17 during trading on Friday, reaching $41.89. The stock had a trading volume of 490,667 shares, compared to its average volume of 241,973. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. NBT Bancorp Inc. has a 1-year low of $36.86 and a 1-year high of $52.44. The stock has a market cap of $1.98 billion, a PE ratio of 13.87 and a beta of 0.58. The business has a fifty day moving average price of $42.04 and a 200-day moving average price of $44.53.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its earnings results 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 net margin of 17.99% and a return on equity of 9.57%. The company 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 company posted $0.68 EPS. On average, equities analysts forecast 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. Shareholders of record on Monday, June 2nd were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 3.25%. NBT Bancorp's payout ratio is 45.03%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other NBT Bancorp news, Director John H. Watt, Jr. sold 7,869 shares of NBT Bancorp 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 sale, the director now owns 116,027 shares in the company, valued at $4,875,454.54. The trade was a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heidi M. Hoeller acquired 2,553 shares of NBT Bancorp stock in a transaction that occurred on Tuesday, April 29th. The stock was bought at an average price 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 $388,457.90. This trade represents a 39.66% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 5,491 shares of company stock valued at $235,674 in the last ninety days. 3.03% of the stock is currently owned by corporate insiders.

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.