Sippican Capital Advisors reduced its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 9.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,900 shares of the bank’s stock after selling 700 shares during the period. Sippican Capital Advisors’ holdings in NBT Bancorp were worth $255,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in NBTB. Alpha Windward LLC purchased a new position in shares of NBT Bancorp during the second quarter worth approximately $463,000. Fenimore Asset Management Inc. raised its position in shares of NBT Bancorp by 49.9% in the second quarter. Fenimore Asset Management Inc. now owns 37,270 shares of the bank’s stock worth $1,377,000 after buying an additional 12,414 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of NBT Bancorp by 79.0% in the second quarter. State of Alaska Department of Revenue now owns 8,573 shares of the bank’s stock worth $316,000 after buying an additional 3,783 shares during the last quarter. Bank of Montreal Can raised its position in shares of NBT Bancorp by 37.2% in the second quarter. Bank of Montreal Can now owns 4,021 shares of the bank’s stock worth $149,000 after buying an additional 1,090 shares during the last quarter. Finally, State Street Corp raised its position in shares of NBT Bancorp by 14.1% in the first quarter. State Street Corp now owns 1,246,976 shares of the bank’s stock worth $46,225,000 after buying an additional 154,441 shares during the last quarter. 49.87% of the stock is owned by hedge funds and other institutional investors.
Shares of NBT Bancorp Inc. (NBTB) opened at 34.35 on Tuesday. NBT Bancorp Inc. has a 12 month low of $30.28 and a 12 month high of $42.56. The stock has a market capitalization of $1.49 billion, a P/E ratio of 18.47 and a beta of 0.88. The firm’s 50-day moving average price is $36.21 and its 200-day moving average price is $37.81.
NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, July 24th. The bank reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The business had revenue of $99.93 million for the quarter, compared to analysts’ expectations of $100.91 million. NBT Bancorp had a return on equity of 8.81% and a net margin of 19.68%. During the same period in the previous year, the firm posted $0.46 EPS. On average, equities research analysts forecast that NBT Bancorp Inc. will post $1.95 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Wednesday, August 30th. NBT Bancorp’s dividend payout ratio is currently 49.46%.
A number of equities analysts recently commented on NBTB shares. Zacks Investment Research raised NBT Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Thursday, April 27th. Piper Jaffray Companies upgraded NBT Bancorp from an “underweight” rating to a “neutral” rating and set a $35.50 price objective on the stock 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 equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $36.75.
In other news, Director John C. Mitchell sold 1,438 shares of NBT Bancorp stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $35.48, for a total transaction of $51,020.24. Following the sale, 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 SEC, which can be accessed through this link. Also, Director John C. Mitchell sold 1,570 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $36.27, for a total transaction of $56,943.90. Following the sale, the director now directly owns 34,219 shares in the company, valued at approximately $1,241,123.13. The disclosure for this sale can be found here. Insiders own 2.83% of the company’s stock.
About NBT Bancorp
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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