Deprince Race & Zollo Inc. Decreases Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Deprince Race & Zollo Inc. lowered its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 770,468 shares of the bank's stock after selling 34,185 shares during the quarter. Deprince Race & Zollo Inc. owned 1.63% of NBT Bancorp worth $36,798,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NBTB. GAMMA Investing LLC boosted 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 valued at $62,000 after acquiring an additional 517 shares during the last quarter. Sterling Capital Management LLC grew 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 valued at $69,000 after purchasing an additional 1,292 shares during the period. Rialto Wealth Management LLC purchased a new stake in NBT Bancorp in the fourth quarter worth $87,000. US Bancorp DE raised its stake in shares of NBT Bancorp by 42.0% in the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank's stock valued at $88,000 after buying an additional 543 shares during the period. Finally, Crews Bank & Trust purchased a new position in shares of NBT Bancorp during the 4th quarter valued at $98,000. Hedge funds and other institutional investors own 58.46% of the company's stock.

Insider Transactions at NBT Bancorp

In other news, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction on Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction 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 approximately $1,238,575.80. The trade was a 16.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Heidi M. Hoeller bought 2,553 shares of NBT Bancorp stock in a transaction that occurred on Tuesday, April 29th. The stock was purchased at an average cost of $43.21 per share, for a total transaction of $110,315.13. Following the purchase, the director now owns 8,990 shares of the company's stock, valued at $388,457.90. The trade was a 39.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.03% of the stock is owned by insiders.

NBT Bancorp Price Performance

NASDAQ NBTB traded down $0.30 on Friday, hitting $43.02. The stock had a trading volume of 235,121 shares, compared to its average volume of 235,788. The firm has a 50-day moving average of $41.96 and a 200-day moving average of $46.02. 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 52-week low of $34.47 and a 52-week high of $52.44. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 14.53 and a beta of 0.58.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.04. The company had revenue of $155.31 million for 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 business posted $0.68 earnings per share. Equities analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NBTB shares. StockNews.com upgraded NBT Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Hovde Group initiated coverage on shares of 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. Stephens raised shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price objective for the company in a report on Wednesday, January 29th. Finally, DA Davidson lowered their target price on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, 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.