Northern Trust Corp Acquires 33,855 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Northern Trust Corp grew its position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 726,413 shares of the bank's stock after purchasing an additional 33,855 shares during the quarter. Northern Trust Corp owned about 1.54% of NBT Bancorp worth $34,693,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of NBT Bancorp by 66.5% in the 4th 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 4th quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock worth $69,000 after acquiring an additional 1,292 shares during the period. Rialto Wealth Management LLC acquired a new stake in NBT Bancorp during the 4th quarter worth about $87,000. US Bancorp DE boosted its position in shares of NBT Bancorp by 42.0% during the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank's stock worth $88,000 after purchasing an additional 543 shares in the last quarter. Finally, Crews Bank & Trust bought a new position in shares of NBT Bancorp during the 4th quarter worth about $98,000. 58.46% of the stock is currently owned by institutional investors.

Insider Activity at NBT Bancorp

In other news, Director Heidi M. Hoeller purchased 2,588 shares of the business's stock in a transaction 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 acquisition, the director now directly owns 11,578 shares in the company, valued at approximately $496,464.64. This trade represents a 28.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.03% of the stock is owned by company insiders.

NBT Bancorp Stock Performance

Shares of NBTB stock traded down $0.24 during trading hours on Friday, hitting $44.14. 63,845 shares of the company were exchanged, compared to its average volume of 236,821. The firm has a fifty day simple moving average of $41.98 and a 200 day simple moving average of $46.02. 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 52-week low of $34.47 and a 52-week high of $52.44. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 14.92 and a beta of 0.58.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.04. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. The company had revenue of $155.31 million during the quarter, compared to analyst estimates of $151.00 million. During the same quarter last year, the business posted $0.68 EPS. Research analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NBTB has been the topic of several recent research reports. DA Davidson dropped their price target on shares of 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 raised shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 target price on the stock in a research report on Wednesday, January 29th. Hovde Group started coverage on shares of NBT Bancorp in a research report on Friday, March 21st. They set 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 research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.