Tandem Investment Advisors Inc. Takes Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Tandem Investment Advisors Inc. acquired a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,973 shares of the bank’s stock, valued at approximately $376,000.

Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of NBT Bancorp by 6.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 513,545 shares of the bank’s stock valued at $16,274,000 after purchasing an additional 31,876 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of NBT Bancorp by 5.7% in the third quarter. Northern Trust Corp now owns 741,141 shares of the bank’s stock worth $23,487,000 after buying an additional 39,912 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of NBT Bancorp by 11.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 504,681 shares of the bank’s stock worth $15,993,000 after buying an additional 51,671 shares during the period. Graham Capital Management L.P. acquired a new position in shares of NBT Bancorp in the third quarter worth about $676,000. Finally, HighTower Advisors LLC acquired a new position in shares of NBT Bancorp in the third quarter worth about $855,000. Institutional investors own 58.46% of the company’s stock.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, CFO Scott Allen Kingsley acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were purchased at an average price of $36.80 per share, with a total value of $36,800.00. Following the completion of the transaction, the chief financial officer now owns 25,513 shares in the company, valued at $938,878.40. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Lowell A. Seifter sold 4,770 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $37.50, for a total transaction of $178,875.00. Following the transaction, the director now owns 44,362 shares of the company’s stock, valued at $1,663,575. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Scott Allen Kingsley acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were acquired at an average cost of $36.80 per share, for a total transaction of $36,800.00. Following the transaction, the chief financial officer now owns 25,513 shares of the company’s stock, valued at approximately $938,878.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 8,641 shares of company stock valued at $319,806. 3.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on NBTB shares. Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a report on Thursday, March 21st. Keefe, Bruyette & Woods decreased their target price on shares of NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Piper Sandler decreased their target price on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. Raymond James raised their target price on shares of NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Finally, Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $42.00 target price for the company in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, NBT Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $41.60.

NBT Bancorp Stock Down 0.2 %

Shares of NASDAQ NBTB traded down $0.07 during mid-day trading on Wednesday, reaching $33.02. The company had a trading volume of 113,215 shares, compared to its average volume of 210,649. The stock has a fifty day moving average of $34.74 and a two-hundred day moving average of $36.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 12.41 and a beta of 0.51. NBT Bancorp Inc. has a 12-month low of $27.52 and a 12-month high of $43.77.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The company had revenue of $137.66 million during the quarter, compared to analysts’ expectations of $138.87 million. NBT Bancorp had a return on equity of 11.10% and a net margin of 17.86%. As a group, equities research analysts expect that NBT Bancorp Inc. will post 2.89 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Thursday, February 29th. NBT Bancorp’s dividend payout ratio (DPR) is 48.12%.

NBT Bancorp 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.