BlackRock Inc. boosted its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 47,917.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,456,241 shares of the bank’s stock after buying an additional 5,444,878 shares during the period. BlackRock Inc. owned approximately 12.65% of NBT Bancorp worth $202,263,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of NBTB. Russell Investments Group Ltd. purchased a new stake in shares of NBT Bancorp during the fourth quarter worth about $239,000. Guggenheim Capital LLC boosted its position in NBT Bancorp by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 63,028 shares of the bank’s stock valued at $2,640,000 after buying an additional 8,550 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in NBT Bancorp by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,290 shares of the bank’s stock valued at $975,000 after buying an additional 1,340 shares in the last quarter. Norges Bank bought a new position in NBT Bancorp during the fourth quarter valued at $20,182,000. Finally, Teachers Advisors LLC boosted its position in NBT Bancorp by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 70,339 shares of the bank’s stock valued at $2,946,000 after buying an additional 2,599 shares in the last quarter. 49.87% of the stock is currently owned by institutional investors.
NBT Bancorp Inc. (NBTB) opened at 35.74 on Friday. NBT Bancorp Inc. has a 52 week low of $29.23 and a 52 week high of $42.56. The company’s 50-day moving average is $36.96 and its 200-day moving average is $38.33. The company has a market cap of $1.55 billion, a P/E ratio of 19.53 and a beta of 0.88.
NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, July 24th. The bank reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.01. NBT Bancorp had a net margin of 19.68% and a return on equity of 8.81%. The company had revenue of $99.93 million during the quarter, compared to analyst estimates of $100.91 million. During the same period in the prior year, the business posted $0.46 EPS. On average, analysts anticipate that NBT Bancorp Inc. will post $1.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.57%. NBT Bancorp’s dividend payout ratio is currently 49.46%.
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Several research analysts have weighed in on NBTB shares. Zacks Investment Research cut shares of NBT Bancorp from a “buy” rating to a “hold” rating in a report on Friday, June 9th. BidaskClub upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $35.50 price target on shares of NBT Bancorp in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $36.75.
In other NBT Bancorp news, Director John C. Mitchell sold 1,570 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 34,219 shares in the company, valued at approximately $1,241,123.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Mitchell sold 1,438 shares of the company’s stock in a transaction 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 $1,163,069.88. 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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