816,128 Shares in NBT Bancorp Inc. (NASDAQ:NBTB) Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC purchased a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 816,128 shares of the bank's stock, valued at approximately $38,978,000. Silvercrest Asset Management Group LLC owned 1.73% of NBT Bancorp as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Leigh Baldwin & CO. LLC bought a new stake in shares of NBT Bancorp during the 4th quarter valued at about $52,606,000. Northern Trust Corp boosted its position in shares of NBT Bancorp by 4.9% during the 4th quarter. Northern Trust Corp now owns 726,413 shares of the bank's stock valued at $34,693,000 after acquiring an additional 33,855 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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. boosted 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 acquiring an additional 50,152 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 acquiring an additional 9,713 shares during the last quarter. Institutional investors own 58.46% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NBTB shares. Hovde Group began coverage on NBT Bancorp in a research report on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price for the company. Stephens raised 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. StockNews.com cut NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. Finally, DA Davidson reduced their target price on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $52.75.

Insider Activity at NBT Bancorp

In related news, Director Heidi M. Hoeller acquired 2,553 shares of the stock in a transaction dated Tuesday, April 29th. The stock was acquired at an average cost of $43.21 per share, with a total value of $110,315.13. Following the purchase, the director now directly owns 8,990 shares of the company's stock, valued at approximately $388,457.90. This trade represents a 39.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.03% of the stock is currently owned by insiders.

NBT Bancorp Stock Performance

NBTB stock traded down $0.10 during trading on Tuesday, reaching $43.68. The stock had a trading volume of 185,655 shares, compared to its average volume of 237,708. NBT Bancorp Inc. has a 52 week low of $34.47 and a 52 week high of $52.44. The stock's 50 day moving average is $42.05 and its two-hundred day moving average is $46.00. 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 firm has a market cap of $2.06 billion, a PE ratio of 14.76 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 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.04. The business had revenue of $155.31 million during the quarter, compared to analysts' expectations 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 in the prior year, the business posted $0.68 earnings per share. As a group, equities analysts anticipate 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. Investors of record on Monday, June 2nd will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.11%. NBT Bancorp's dividend payout ratio is currently 45.03%.

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.