Teacher Retirement System of Texas Buys 3,180 Shares of NBT Bancorp Inc. $NBTB

Teacher Retirement System of Texas increased its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 42.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,700 shares of the bank’s stock after purchasing an additional 3,180 shares during the period. Teacher Retirement System of Texas’ holdings in NBT Bancorp were worth $445,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NBTB. Principal Financial Group Inc. boosted its holdings in NBT Bancorp by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 234,849 shares of the bank’s stock valued at $10,075,000 after purchasing an additional 6,150 shares during the period. Prime Capital Investment Advisors LLC purchased a new stake in shares of NBT Bancorp in the second quarter worth $247,000. Members Advisory Group LLC bought a new stake in NBT Bancorp during the second quarter valued at $1,393,000. Entropy Technologies LP purchased a new position in NBT Bancorp during the first quarter worth about $309,000. Finally, Picton Mahoney Asset Management purchased a new position in NBT Bancorp during the first quarter worth about $278,000. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Up 1.9%

Shares of NASDAQ NBTB opened at $41.61 on Monday. The stock has a market capitalization of $2.18 billion, a P/E ratio of 13.87 and a beta of 0.55. NBT Bancorp Inc. has a one year low of $37.31 and a one year high of $52.44. The firm’s 50 day simple moving average is $41.88 and its two-hundred day simple moving average is $42.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, October 27th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.08. NBT Bancorp had a net margin of 17.24% and a return on equity of 10.35%. The company had revenue of $186.07 million during the quarter, compared to analysts’ expectations of $183.87 million. As a group, analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, December 1st. NBT Bancorp’s dividend payout ratio is presently 49.33%.

Insider Transactions at NBT Bancorp

In other news, Director David J. Nasca sold 19,603 shares of NBT Bancorp stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $43.42, for a total value of $851,162.26. Following the transaction, the director owned 82,910 shares in the company, valued at approximately $3,599,952.20. The trade was a 19.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy E. Delaney bought 10,000 shares of the stock in a transaction dated Thursday, November 6th. The stock was bought at an average cost of $40.98 per share, with a total value of $409,800.00. Following the purchase, the director owned 51,885 shares in the company, valued at $2,126,247.30. The trade was a 23.87% increase in their position. The SEC filing for this purchase provides additional information. 3.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Janney Montgomery Scott raised NBT Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Wall Street Zen upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of NBT Bancorp in a research report on Wednesday, October 8th. Piper Sandler set a $47.00 price target on shares of NBT Bancorp and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, DA Davidson cut shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

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.