NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,488 shares of the bank’s stock after selling 388 shares during the quarter. New York State Teachers Retirement System’s holdings in NBT Bancorp were worth $1,886,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NBTB. Legato Capital Management LLC raised its holdings in NBT Bancorp by 102.7% during the fourth quarter. Legato Capital Management LLC now owns 14,835 shares of the bank’s stock worth $709,000 after purchasing an additional 7,515 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of NBT Bancorp in the 4th quarter worth $551,000. Crews Bank & Trust acquired a new stake in shares of NBT Bancorp in the fourth quarter valued at $98,000. KBC Group NV boosted its stake in NBT Bancorp by 47.5% during the fourth quarter. KBC Group NV now owns 2,152 shares of the bank’s stock valued at $103,000 after buying an additional 693 shares in the last quarter. Finally, Burney Co. acquired a new position in NBT Bancorp during the fourth quarter worth about $441,000. 58.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NBT Bancorp news, Director Heidi M. Hoeller purchased 678 shares of NBT Bancorp stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price of $48.45 per share, for a total transaction of $32,849.10. Following the completion of the acquisition, the director now owns 6,437 shares of the company’s stock, valued at approximately $311,872.65. This trade represents a 11.77 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Sarah A. Halliday sold 5,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $48.45, for a total value of $242,250.00. Following the sale, the executive vice president now directly owns 25,564 shares of the company’s stock, valued at $1,238,575.80. This represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,694 shares of company stock valued at $277,935. Company insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NBTB. Keefe, Bruyette & Woods lifted their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a research report on Wednesday, January 29th. Finally, DA Davidson started coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.75.

NBT Bancorp Trading Down 1.0 %

Shares of NASDAQ NBTB opened at $46.87 on Friday. The company has a market cap of $2.21 billion, a PE ratio of 15.83 and a beta of 0.52. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $47.96 and a two-hundred day moving average of $47.15. NBT Bancorp Inc. has a 1-year low of $32.79 and a 1-year high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter last year, the company earned $0.72 EPS. As a group, equities analysts expect that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, March 3rd. NBT Bancorp’s dividend payout ratio (DPR) is 45.95%.

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.