Legal & General Group Plc Has $6.27 Million Stock Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

Legal & General Group Plc decreased its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 131,335 shares of the bank's stock after selling 6,391 shares during the quarter. Legal & General Group Plc owned approximately 0.28% of NBT Bancorp worth $6,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NBTB. Geode Capital Management LLC increased its position in NBT Bancorp by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank's stock worth $49,477,000 after buying an additional 10,628 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of NBT Bancorp by 12.5% during the 4th quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank's stock valued at $32,632,000 after acquiring an additional 75,693 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of NBT Bancorp by 8.1% in the 4th quarter. Victory Capital Management Inc. now owns 666,562 shares of the bank's stock valued at $31,835,000 after acquiring an additional 50,152 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in NBT Bancorp by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 595,349 shares of the bank's stock worth $28,434,000 after purchasing an additional 9,713 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in NBT Bancorp during the fourth quarter worth approximately $23,651,000. Institutional investors and hedge funds own 58.46% of the company's stock.

Insider Buying and Selling at NBT Bancorp

In other news, Director Heidi M. Hoeller acquired 678 shares of the company's stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $48.45 per share, with a total value of $32,849.10. Following the completion of the acquisition, the director now owns 6,437 shares in the company, valued at approximately $311,872.65. This represents a 11.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sarah A. Halliday sold 5,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 25,564 shares in the company, valued at $1,238,575.80. The trade was a 16.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.03% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on NBTB. Stephens raised shares of 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. Hovde Group began coverage on shares of NBT Bancorp in a report on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price on the stock. Finally, StockNews.com cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $54.50.

NBT Bancorp Stock Performance

Shares of NASDAQ:NBTB traded down $0.14 during trading on Thursday, hitting $41.74. 26,298 shares of the stock were exchanged, compared to its average volume of 217,497. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 14.08 and a beta of 0.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp Inc. has a 1-year low of $34.47 and a 1-year high of $52.44. The company's fifty day simple moving average is $43.03 and its 200-day simple moving average is $46.17.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.01). 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 posted $0.72 EPS. Sell-side analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Monday, March 3rd. NBT Bancorp's dividend payout ratio is 45.95%.

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.