Renaissance Technologies LLC Reduces Stock Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Renaissance Technologies LLC trimmed its stake in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 70.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,500 shares of the bank's stock after selling 20,339 shares during the period. Renaissance Technologies LLC's holdings in NBT Bancorp were worth $406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in NBTB. Invesco Ltd. boosted its stake in shares of NBT Bancorp by 0.5% in the fourth quarter. Invesco Ltd. now owns 150,819 shares of the bank's stock worth $7,203,000 after acquiring an additional 814 shares during the last quarter. Bank of Montreal Can raised its stake in NBT Bancorp by 6.8% during the 4th quarter. Bank of Montreal Can now owns 7,278 shares of the bank's stock worth $348,000 after acquiring an additional 461 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of NBT Bancorp by 3.4% in the fourth quarter. Wells Fargo & Company MN now owns 103,654 shares of the bank's stock valued at $4,950,000 after acquiring an additional 3,398 shares during the period. ExodusPoint Capital Management LP increased its holdings in shares of NBT Bancorp by 165.2% in the fourth quarter. ExodusPoint Capital Management LP now owns 28,956 shares of the bank's stock valued at $1,383,000 after purchasing an additional 18,038 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of NBT Bancorp by 16.6% during the fourth quarter. Franklin Resources Inc. now owns 86,855 shares of the bank's stock worth $4,148,000 after acquiring an additional 12,387 shares during the period. Institutional investors and hedge funds own 58.46% of the company's stock.

NBT Bancorp Price Performance

Shares of NBTB opened at $43.41 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.05 billion, a P/E ratio of 14.67 and a beta of 0.58. The stock's 50-day moving average price is $42.35 and its two-hundred day moving average price is $46.09. NBT Bancorp Inc. has a 1 year low of $34.47 and a 1 year high of $52.44.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, beating 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 firm had revenue of $155.31 million during the quarter, compared to the consensus estimate of $151.00 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. On average, equities analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NBTB shares. DA Davidson cut their target price 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. StockNews.com cut NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, January 16th. Hovde Group assumed coverage on shares of NBT Bancorp in a report on Friday, March 21st. They issued a "market perform" rating and a $50.00 price objective for the company. Finally, Stephens upgraded 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 note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $52.75.

Insiders Place Their Bets

In related news, Director Heidi M. Hoeller bought 678 shares of NBT Bancorp stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the completion of the acquisition, the director now directly owns 6,437 shares of the company's stock, valued at approximately $311,872.65. The trade was a 11.77 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sarah A. Halliday sold 5,000 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction of $242,250.00. Following the transaction, the executive vice president now owns 25,564 shares in the company, valued at $1,238,575.80. This represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.03% of the company's stock.

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.

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