Salzhauer Michael decreased its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,997 shares of the bank’s stock after selling 3,000 shares during the period. Salzhauer Michael owned 0.09% of NBT Bancorp worth $1,478,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of NBT Bancorp during the fourth quarter worth about $239,000. Guggenheim Capital LLC increased its position in shares of NBT Bancorp by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 63,028 shares of the bank’s stock worth $2,640,000 after buying an additional 8,550 shares during the period. Thrivent Financial for Lutherans increased its position in shares of NBT Bancorp by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,290 shares of the bank’s stock worth $975,000 after buying an additional 1,340 shares during the period. Norges Bank bought a new position in shares of NBT Bancorp during the fourth quarter worth about $20,182,000. Finally, Teachers Advisors LLC increased its position in shares of NBT Bancorp by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 70,339 shares of the bank’s stock worth $2,946,000 after buying an additional 2,599 shares during the period. Institutional investors own 49.84% of the company’s stock.
Shares of NBT Bancorp Inc. (NBTB) traded up 0.44% during trading on Wednesday, hitting $36.74. The stock had a trading volume of 39,440 shares. The company has a market capitalization of $1.60 billion, a PE ratio of 20.08 and a beta of 0.88. The firm has a 50-day moving average price of $36.89 and a 200 day moving average price of $38.57. NBT Bancorp Inc. has a 52 week low of $29.23 and a 52 week high of $42.56.
NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, April 24th. The bank reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $97.20 million during the quarter, compared to analysts’ expectations of $97.54 million. NBT Bancorp had a return on equity of 8.75% and a net margin of 19.58%. NBT Bancorp’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 EPS. Equities analysts anticipate that NBT Bancorp Inc. will post $1.95 earnings per share for the current year.
NBTB has been the subject of a number of analyst reports. Zacks Investment Research downgraded NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Piper Jaffray Companies upgraded NBT Bancorp from an “underweight” rating to a “neutral” rating and set a $35.50 price objective for the company in a research report on Thursday, June 8th. Finally, BidaskClub upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $34.25.
In other NBT Bancorp news, Director John C. Mitchell sold 1,438 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $35.48, for a total transaction of $51,020.24. Following the completion of the transaction, the director now owns 32,781 shares of the company’s stock, valued at approximately $1,163,069.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Mitchell sold 1,570 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $36.27, for a total value of $56,943.90. Following the transaction, the director now directly owns 34,219 shares of the company’s stock, valued at approximately $1,241,123.13. The disclosure for this sale can be found here. Corporate insiders own 2.83% of the company’s stock.
NBT Bancorp Company Profile
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing 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.
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