Wells Fargo & Company MN Purchases 3,398 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Wells Fargo & Company MN boosted its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,654 shares of the bank’s stock after purchasing an additional 3,398 shares during the quarter. Wells Fargo & Company MN’s holdings in NBT Bancorp were worth $4,950,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NBTB. GAMMA Investing LLC boosted its stake in NBT Bancorp by 66.5% during the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock worth $62,000 after buying an additional 517 shares during the period. Rialto Wealth Management LLC bought a new position in NBT Bancorp in the fourth quarter worth approximately $87,000. US Bancorp DE increased its stake in shares of NBT Bancorp by 42.0% during the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock valued at $88,000 after buying an additional 543 shares during the period. Crews Bank & Trust bought a new stake in shares of NBT Bancorp in the 4th quarter valued at about $98,000. Finally, KBC Group NV lifted its holdings in NBT Bancorp by 47.5% during the fourth quarter. KBC Group NV now owns 2,152 shares of the bank’s stock worth $103,000 after buying an additional 693 shares during the period. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Trading Up 0.5 %

Shares of NBTB stock opened at $39.76 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a 50 day simple moving average of $43.45 and a 200-day simple moving average of $46.26. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 13.43 and a beta of 0.53. NBT Bancorp Inc. has a 1-year low of $34.47 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 for the quarter, missing the consensus estimate 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 period in the previous year, the company posted $0.72 earnings per share. On average, equities research analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.42%. NBT Bancorp’s dividend payout ratio (DPR) is presently 45.95%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research note on Wednesday, January 29th. Hovde Group initiated coverage on NBT Bancorp in a research report on Friday, March 21st. They issued a “market perform” rating and a $50.00 target price on the stock. Finally, StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $54.50.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director Heidi M. Hoeller acquired 678 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $48.45 per share, with a total value of $32,849.10. Following the transaction, the director now owns 6,437 shares of the company’s stock, valued at $311,872.65. This trade represents a 11.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sarah A. Halliday sold 5,000 shares of the 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 transaction, the executive vice president now directly owns 25,564 shares of the company’s stock, valued at approximately $1,238,575.80. This trade represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. 3.32% of the stock is owned by company insiders.

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.