Voya Investment Management LLC Decreases Stock Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

Voya Investment Management LLC trimmed its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,481 shares of the bank's stock after selling 35,738 shares during the quarter. Voya Investment Management LLC owned 0.13% of NBT Bancorp worth $2,984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings 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 buying an additional 75,693 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in 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 period. Charles Schwab Investment Management Inc. increased its holdings in NBT Bancorp by 1.7% during the fourth 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. Raymond James Financial Inc. purchased a new stake in shares of NBT Bancorp during the fourth quarter worth about $23,651,000. Finally, JPMorgan Chase & Co. grew its holdings in NBT Bancorp by 307.0% during the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank's stock worth $17,998,000 after acquiring an additional 284,267 shares during the period. Institutional investors own 58.46% of the company's stock.

Insider Activity at NBT Bancorp

In related news, EVP Sarah A. Halliday sold 5,000 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $48.45, for a total value of $242,250.00. Following the sale, the executive vice president now directly owns 25,564 shares in the company, valued at $1,238,575.80. This represents a 16.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Heidi M. Hoeller purchased 2,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $42.88 per share, with a total value of $110,973.44. Following the acquisition, the director now directly owns 11,578 shares of the company's stock, valued at $496,464.64. This represents a 28.79 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 5,819 shares of company stock valued at $254,138. Company insiders own 3.03% of the company's stock.

Analyst Upgrades and Downgrades

NBTB has been the subject of a number of analyst reports. DA Davidson lowered their target price on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Monday, April 28th. 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 report on Wednesday, January 29th. Hovde Group assumed coverage on NBT Bancorp in a report on Friday, March 21st. They set a "market perform" rating and a $50.00 price target on the stock. Finally, StockNews.com raised shares of NBT Bancorp from a "sell" rating to a "hold" rating in a research report on Monday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $52.75.

NBT Bancorp Stock Up 0.9 %

NASDAQ NBTB traded up $0.39 during trading on Thursday, hitting $43.05. The company's stock had a trading volume of 68,546 shares, compared to its average volume of 233,749. NBT Bancorp Inc. has a fifty-two week low of $34.47 and a fifty-two week high of $52.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The business's 50 day simple moving average is $42.08 and its 200-day simple moving average is $46.03. The company has a market cap of $2.03 billion, a PE ratio of 14.54 and a beta of 0.58.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.04. The company 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 period last year, the firm earned $0.68 EPS. On average, equities analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

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.