Rhumbline Advisers Trims Stock Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Rhumbline Advisers decreased its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,872 shares of the bank’s stock after selling 3,547 shares during the period. Rhumbline Advisers’ holdings in NBT Bancorp were worth $6,585,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates increased its position in shares of NBT Bancorp by 3.9% during the 3rd quarter. Raymond James & Associates now owns 95,062 shares of the bank’s stock worth $4,205,000 after purchasing an additional 3,540 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in NBT Bancorp by 3.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 144,642 shares of the bank’s stock worth $6,398,000 after buying an additional 5,235 shares during the period. US Bancorp DE acquired a new stake in shares of NBT Bancorp during the third quarter valued at about $57,000. Ceredex Value Advisors LLC raised its stake in shares of NBT Bancorp by 40.9% in the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock valued at $13,680,000 after acquiring an additional 89,800 shares during the period. Finally, Focused Wealth Management Inc acquired a new position in shares of NBT Bancorp in the 3rd quarter worth approximately $217,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Trading Down 1.1 %

NBTB stock opened at $46.91 on Thursday. NBT Bancorp Inc. has a 52 week low of $32.79 and a 52 week high of $52.44. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 15.85 and a beta of 0.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $47.78 and a 200-day simple moving average of $47.21.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same period last year, the firm posted $0.72 EPS. On average, equities research analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Monday, March 3rd. NBT Bancorp’s dividend payout ratio is currently 45.95%.

Insider Transactions at NBT Bancorp

In related news, EVP Amy Wiles sold 500 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $51.31, for a total value of $25,655.00. Following the sale, the executive vice president now owns 27,409 shares of the company’s stock, valued at $1,406,355.79. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sarah A. Halliday sold 5,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $48.45, for a total transaction of $242,250.00. Following the completion of the sale, the executive vice president now directly owns 25,564 shares of the company’s stock, valued at $1,238,575.80. The trade was a 16.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,694 shares of company stock valued at $277,935. Insiders own 3.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NBTB. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Stephens raised 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. DA Davidson assumed coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NBT Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

About NBT Bancorp

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.