Louisiana State Employees Retirement System Takes $989,000 Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Louisiana State Employees Retirement System bought a new stake in NBT Bancorp Inc. (NASDAQ:NBTB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 23,600 shares of the bank’s stock, valued at approximately $989,000. Louisiana State Employees Retirement System owned about 0.05% of NBT Bancorp at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NBTB. SG Americas Securities LLC bought a new position in shares of NBT Bancorp in the 3rd quarter valued at about $498,000. State of Alaska Department of Revenue raised its position in shares of NBT Bancorp by 4.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 29,406 shares of the bank’s stock valued at $931,000 after acquiring an additional 1,176 shares during the period. Commonwealth Equity Services LLC raised its position in shares of NBT Bancorp by 8.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 126,564 shares of the bank’s stock valued at $4,011,000 after acquiring an additional 9,901 shares during the period. Maryland State Retirement & Pension System raised its position in shares of NBT Bancorp by 4.1% in the 3rd quarter. Maryland State Retirement & Pension System now owns 17,396 shares of the bank’s stock valued at $551,000 after acquiring an additional 681 shares during the period. Finally, Raymond James & Associates raised its position in shares of NBT Bancorp by 9.4% in the 3rd quarter. Raymond James & Associates now owns 72,460 shares of the bank’s stock valued at $2,296,000 after acquiring an additional 6,197 shares during the period. Institutional investors own 58.46% of the company’s stock.

Insider Activity

In other news, Director Lowell A. Seifter sold 4,770 shares of NBT Bancorp stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $37.50, for a total value of $178,875.00. Following the sale, the director now directly owns 44,362 shares in the company, valued at $1,663,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lowell A. Seifter sold 4,770 shares of NBT Bancorp stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $37.50, for a total value of $178,875.00. Following the sale, the director now directly owns 44,362 shares in the company, valued at $1,663,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lowell A. Seifter sold 3,230 shares of NBT Bancorp stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $36.96, for a total transaction of $119,380.80. Following the completion of the sale, the director now owns 49,132 shares in the company, valued at $1,815,918.72. The disclosure for this sale can be found here. Insiders have sold 8,641 shares of company stock worth $319,806 over the last ninety days. Insiders own 3.32% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NBTB stock opened at $35.90 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $1.69 billion, a P/E ratio of 13.86 and a beta of 0.51. The company’s 50 day moving average price is $34.79 and its two-hundred day moving average price is $36.23. NBT Bancorp Inc. has a 52 week low of $27.52 and a 52 week high of $43.77.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The firm had revenue of $192.33 million for the quarter, compared to the consensus estimate of $135.01 million. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.41%. During the same period last year, the company posted $0.88 EPS. On average, analysts expect that NBT Bancorp Inc. will post 2.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NBTB. Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of NBT Bancorp in a research report on Tuesday. Keefe, Bruyette & Woods cut their price target on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a research report on Wednesday. Piper Sandler cut their price target on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Raymond James increased their price target on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Finally, Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, NBT Bancorp presently has an average rating of “Moderate Buy” and an average price target of $41.20.

NBT Bancorp 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.