Leigh Baldwin & CO. LLC Buys Shares of 1,101,457 NBT Bancorp Inc. (NASDAQ:NBTB)

Leigh Baldwin & CO. LLC purchased a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,101,457 shares of the bank's stock, valued at approximately $52,606,000. Leigh Baldwin & CO. LLC owned about 2.33% of NBT Bancorp as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of NBT Bancorp during the fourth quarter valued at approximately $23,651,000. JPMorgan Chase & Co. increased its position in shares of NBT Bancorp by 307.0% during the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank's stock valued at $17,998,000 after purchasing an additional 284,267 shares during the period. Assenagon Asset Management S.A. bought a new stake in NBT Bancorp in the fourth quarter valued at $12,007,000. Norges Bank bought a new stake in NBT Bancorp in the fourth quarter valued at $6,736,000. Finally, Great Lakes Advisors LLC bought a new stake in NBT Bancorp in the fourth quarter valued at $4,294,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Price Performance

Shares of NBTB stock traded down $0.27 during trading hours on Friday, hitting $44.11. 204,561 shares of the company's stock were exchanged, compared to its average volume of 237,765. The stock's 50-day moving average is $42.00 and its 200-day moving average is $46.01. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 14.90 and a beta of 0.58. NBT Bancorp Inc. has a 52 week low of $34.47 and a 52 week high of $52.44.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. The company had revenue of $155.31 million for the quarter, compared to analysts' expectations 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 in the prior year, the business earned $0.68 earnings per share. As a group, research analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current year.

Insider Activity

In other news, Director Heidi M. Hoeller purchased 2,553 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were acquired at an average price of $43.21 per share, with a total value of $110,315.13. Following the completion of the purchase, the director now directly owns 8,990 shares of the company's stock, valued at $388,457.90. The trade was a 39.66% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on NBTB shares. DA Davidson lowered their price target on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Stephens upgraded NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price target 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. Finally, Hovde Group started coverage on NBT Bancorp in a research report on Friday, March 21st. They issued a "market perform" rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, NBT Bancorp currently has an average rating of "Hold" and an average target price of $52.75.

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.