Silvercrest Asset Management Group LLC Takes Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Silvercrest Asset Management Group LLC purchased a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 816,128 shares of the bank's stock, valued at approximately $38,978,000. Silvercrest Asset Management Group LLC owned about 1.73% of NBT Bancorp at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Leigh Baldwin & CO. LLC bought a new position in shares of NBT Bancorp in the 4th quarter valued at about $52,606,000. Northern Trust Corp boosted its holdings in shares of NBT Bancorp by 4.9% in the 4th quarter. Northern Trust Corp now owns 726,413 shares of the bank's stock worth $34,693,000 after purchasing an additional 33,855 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of NBT Bancorp by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank's stock worth $32,632,000 after purchasing an additional 75,693 shares during the period. Victory Capital Management Inc. increased its position in shares of NBT Bancorp by 8.1% during the 4th quarter. Victory Capital Management Inc. now owns 666,562 shares of the bank's stock valued at $31,835,000 after purchasing an additional 50,152 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in NBT Bancorp by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 595,349 shares of the bank's stock valued at $28,434,000 after buying an additional 9,713 shares during the period. Hedge funds and other institutional investors own 58.46% of the company's stock.

NBT Bancorp Trading Up 0.0%

NBTB traded up $0.00 on Thursday, reaching $42.30. 66,313 shares of the company traded hands, compared to its average volume of 237,185. The company has a market cap of $2.00 billion, a P/E ratio of 14.30 and a beta of 0.58. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a one year low of $34.47 and a one year high of $52.44. The firm has a fifty day simple moving average of $42.03 and a two-hundred day simple moving average of $45.98.

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, topping analysts' consensus estimates of $0.76 by $0.04. The business had revenue of $155.31 million for the quarter, compared to analyst estimates of $151.00 million. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same period last year, the company posted $0.68 earnings per share. As a group, equities research analysts expect that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Monday, June 2nd. NBT Bancorp's dividend payout ratio (DPR) is presently 45.03%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NBTB shares. DA Davidson cut their price objective 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. Hovde Group assumed coverage on shares of NBT Bancorp in a research note on Friday, March 21st. They set a "market perform" rating and a $50.00 price target for the company. Wall Street Zen lowered shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday. Finally, Stephens upgraded NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 target price for the company in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $52.75.

Insiders Place Their Bets

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 purchased at an average price of $43.21 per share, for a total transaction of $110,315.13. Following the completion of the purchase, the director now owns 8,990 shares in the company, valued at approximately $388,457.90. This represents a 39.66% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company 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.