Leigh Baldwin & CO. LLC acquired a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,101,457 shares of the bank's stock, valued at approximately $52,606,000. Leigh Baldwin & CO. LLC owned approximately 2.33% of NBT Bancorp as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of NBT Bancorp by 55.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank's stock valued at $9,946,000 after purchasing an additional 80,232 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in 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 last quarter. Barclays PLC lifted its stake in NBT Bancorp by 41.8% in the third quarter. Barclays PLC now owns 91,880 shares of the bank's stock valued at $4,064,000 after buying an additional 27,085 shares during the last quarter. Lisanti Capital Growth LLC grew its position in shares of NBT Bancorp by 53.0% during the fourth quarter. Lisanti Capital Growth LLC now owns 66,035 shares of the bank's stock worth $3,154,000 after acquiring an additional 22,865 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of NBT Bancorp by 68.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,582 shares of the bank's stock valued at $4,095,000 after acquiring an additional 37,469 shares during the period. 58.46% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on NBTB. Stephens raised shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price objective on the stock in a research report on Wednesday, January 29th. StockNews.com cut NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday. 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 price objective for the company. Finally, DA Davidson lowered their target price on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $52.75.
Read Our Latest Stock Analysis on NBTB
NBT Bancorp Price Performance
Shares of NBTB traded down $0.07 during mid-day trading on Thursday, hitting $44.38. The company's stock had a trading volume of 173,494 shares, compared to its average volume of 237,504. 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 1-year low of $34.47 and a 1-year high of $52.44. The firm has a market capitalization of $2.10 billion, a P/E ratio of 14.99 and a beta of 0.58. The firm has a 50-day simple moving average of $41.98 and a 200 day simple moving average of $46.02.
NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its 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. The company had revenue of $155.31 million during the quarter, compared to the consensus estimate of $151.00 million. NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same quarter last year, the company earned $0.68 earnings per share. Analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.
Insider Activity
In other news, Director Heidi M. Hoeller acquired 2,588 shares of NBT Bancorp stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $42.88 per share, with a total value of $110,973.44. Following the completion of the acquisition, the director now owns 11,578 shares in the company, valued at $496,464.64. This trade represents a 28.79% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.03% of the company's stock.
About NBT Bancorp
(
Free Report)
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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