Hsbc Holdings PLC Raises Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Hsbc Holdings PLC grew its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 140.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,913 shares of the bank's stock after acquiring an additional 9,874 shares during the period. Hsbc Holdings PLC's holdings in NBT Bancorp were worth $812,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in NBT Bancorp by 66.5% in the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank's stock worth $62,000 after purchasing an additional 517 shares during the period. Sterling Capital Management LLC grew its position in shares of NBT Bancorp by 817.7% in the 4th 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 during the period. Rialto Wealth Management LLC purchased a new stake in shares of NBT Bancorp in the 4th quarter worth about $87,000. US Bancorp DE increased its stake in shares of NBT Bancorp by 42.0% in 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. Finally, Crews Bank & Trust purchased a new position in NBT Bancorp during the 4th quarter valued at about $98,000. Institutional investors own 58.46% of the company's stock.

Insider Buying and Selling at NBT Bancorp

In other news, Director Heidi M. Hoeller purchased 678 shares of the stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $48.45 per share, with a total value of $32,849.10. Following the acquisition, the director now directly owns 6,437 shares of the company's stock, valued at $311,872.65. This represents a 11.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction on Monday, February 10th. The stock was sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the sale, the executive vice president now directly owns 25,564 shares of the company's stock, valued at $1,238,575.80. The trade was a 16.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.03% of the company's stock.

NBT Bancorp Stock Performance

NBTB stock opened at $43.41 on Monday. The stock's 50 day simple moving average is $42.35 and its 200 day simple moving average is $46.09. 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 Inc. has a 12-month low of $34.47 and a 12-month high of $52.44. The stock has a market capitalization of $2.05 billion, a PE ratio of 14.67 and a beta of 0.58.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share (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 firm had revenue of $155.31 million for the quarter, compared to the consensus estimate of $151.00 million. During the same period in the prior year, the company posted $0.68 earnings per share. As a group, research analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NBTB. Stephens raised shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 target price for the company in a research note on Wednesday, January 29th. Hovde Group began coverage on NBT Bancorp in a research note on Friday, March 21st. They set a "market perform" rating and a $50.00 price objective for the company. StockNews.com downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, January 16th. Finally, DA Davidson reduced their price target on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating for the company in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $52.75.

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.

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