SOL Capital Management CO bought a new position in NBT Bancorp Inc. (NASDAQ:NBTB – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,477 shares of the bank’s stock, valued at approximately $445,000.
Other large investors have also made changes to their positions in the company. Millennium Management LLC boosted its stake in NBT Bancorp by 564.1% in the 3rd quarter. Millennium Management LLC now owns 248,050 shares of the bank’s stock worth $10,359,000 after purchasing an additional 210,699 shares during the period. State Street Corp raised its stake in NBT Bancorp by 7.8% during the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after purchasing an additional 182,793 shares during the period. Nuveen LLC lifted its holdings in shares of NBT Bancorp by 171.0% in the fourth quarter. Nuveen LLC now owns 286,107 shares of the bank’s stock valued at $11,879,000 after purchasing an additional 180,528 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of NBT Bancorp by 63.2% in the second quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock valued at $18,741,000 after purchasing an additional 174,639 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of NBT Bancorp in the third quarter valued at $4,886,000. Institutional investors and hedge funds own 58.46% of the company’s stock.
NBT Bancorp Stock Down 0.3%
NBTB stock opened at $50.08 on Friday. NBT Bancorp Inc. has a 12-month low of $39.19 and a 12-month high of $51.09. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 14.27 and a beta of 0.48. The company has a 50 day moving average of $46.27 and a two-hundred day moving average of $44.50.
NBT Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.48 dividend on an annualized basis and a yield of 3.0%. NBT Bancorp’s dividend payout ratio (DPR) is presently 42.17%.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on NBTB shares. Piper Sandler lifted their price target on NBT Bancorp from $50.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, June 26th. DA Davidson reissued a “buy” rating and issued a $52.00 price objective on shares of NBT Bancorp in a research note on Monday, April 27th. Hovde Group decreased their price objective on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research report on Monday, April 27th. Finally, Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.50.
View Our Latest Research Report on NBT Bancorp
Insider Transactions at NBT Bancorp
In related news, EVP Ruth H. Mahoney sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $46.60, for a total value of $233,000.00. Following the completion of the sale, the executive vice president owned 16,428 shares of the company’s stock, valued at approximately $765,544.80. The trade was a 23.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Heidi M. Hoeller sold 2,100 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $48.03, for a total value of $100,863.00. Following the completion of the transaction, the director owned 11,560 shares in the company, valued at $555,226.80. This represents a 15.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.99% of the company’s stock.
About NBT Bancorp
NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.
In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.
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