NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by Comerica Bank

Comerica Bank lessened its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,594 shares of the bank’s stock after selling 278 shares during the period. Comerica Bank’s holdings in NBT Bancorp were worth $793,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in NBT Bancorp in the 4th quarter valued at approximately $23,651,000. JPMorgan Chase & Co. grew its stake in shares of NBT Bancorp by 307.0% in the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank’s stock worth $17,998,000 after purchasing an additional 284,267 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of NBT Bancorp during the fourth quarter valued at $12,007,000. Norges Bank bought a new stake in shares of NBT Bancorp during the fourth quarter valued at about $6,736,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of NBT Bancorp during the fourth quarter valued at about $4,294,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NBTB has been the topic of several research analyst reports. DA Davidson lowered their target price on shares of NBT Bancorp from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. 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 report on Wednesday, January 29th. Hovde Group began coverage on NBT Bancorp in a report on Friday, March 21st. They set a “market perform” rating and a $50.00 target price on the stock. Finally, StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $52.75.

NBT Bancorp Stock Performance

Shares of NBTB opened at $44.80 on Wednesday. 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 firm’s 50 day moving average is $41.95 and its 200-day moving average is $46.04. NBT Bancorp Inc. has a 12-month low of $34.47 and a 12-month high of $52.44. The stock has a market capitalization of $2.12 billion, a P/E ratio of 15.14 and a beta of 0.58.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.04. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. The firm had revenue of $155.31 million for the quarter, compared to analyst estimates of $151.00 million. During the same quarter in the previous year, the business posted $0.68 earnings per share. Equities research analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

Insider Activity at NBT Bancorp

In other news, Director Heidi M. Hoeller acquired 2,588 shares of the stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $42.88 per share, for a total transaction of $110,973.44. Following the transaction, the director now owns 11,578 shares in the company, valued at approximately $496,464.64. This trade represents a 28.79% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.03% of the stock is owned by insiders.

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.