Community Bank N.A. boosted its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,677 shares of the company’s stock after buying an additional 2,462 shares during the period. Community Bank N.A.’s holdings in NBT Bancorp were worth $2,158,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the stock. Capstone Asset Management Co. increased its stake in NBT Bancorp by 4.3% in the third quarter. Capstone Asset Management Co. now owns 11,796 shares of the company’s stock valued at $388,000 after buying an additional 490 shares during the period. Macquarie Group Ltd. increased its stake in NBT Bancorp by 1.2% in the second quarter. Macquarie Group Ltd. now owns 1,909,163 shares of the company’s stock valued at $54,659,000 after buying an additional 22,494 shares during the period. Mason Street Advisors LLC purchased a new stake in NBT Bancorp during the second quarter valued at $240,000. Arizona State Retirement System increased its stake in NBT Bancorp by 0.9% in the second quarter. Arizona State Retirement System now owns 22,312 shares of the company’s stock valued at $639,000 after buying an additional 200 shares during the period. Finally, Citadel Advisors LLC increased its stake in NBT Bancorp by 189.6% in the second quarter. Citadel Advisors LLC now owns 24,481 shares of the company’s stock valued at $701,000 after buying an additional 16,029 shares during the period. 47.85% of the stock is currently owned by institutional investors.
Shares of NBT Bancorp Inc. (NASDAQ:NBTB) traded down 1.74% on Monday, reaching $38.86. The company had a trading volume of 122,087 shares. The company’s 50-day moving average is $35.33 and its 200-day moving average is $31.57. NBT Bancorp Inc. has a one year low of $23.81 and a one year high of $40.96. The company has a market capitalization of $1.68 billion, a PE ratio of 21.83 and a beta of 0.79.
NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 24th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The firm had revenue of $96.31 million for the quarter. NBT Bancorp had a net margin of 19.35% and a return on equity of 8.73%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. Equities research analysts predict that NBT Bancorp Inc. will post $1.80 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.23 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.37%. NBT Bancorp’s payout ratio is currently 51.69%.
Several equities research analysts recently weighed in on the company. Boenning Scattergood downgraded NBT Bancorp from a “neutral” rating to an “underperform” rating and set a $33.50 price objective on the stock. in a report on Thursday, November 17th. Piper Jaffray Cos. lowered NBT Bancorp from a “neutral” rating to an “underweight” rating and set a $31.00 target price for the company. in a research report on Wednesday, November 16th. Finally, Zacks Investment Research raised NBT Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Tuesday, November 1st.
In other news, Director John C. Mitchell sold 1,800 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $39.00, for a total value of $70,200.00. Following the transaction, the director now owns 35,107 shares of the company’s stock, valued at $1,369,173. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Patricia T. Civil sold 3,250 shares of the company’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $38.74, for a total transaction of $125,905.00. Following the completion of the transaction, the director now directly owns 24,168 shares in the company, valued at approximately $936,268.32. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by insiders.
About NBT Bancorp
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and other subsidiaries, which provide commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.