Great Lakes Advisors LLC Invests $4.29 Million in NBT Bancorp Inc. (NASDAQ:NBTB)

Great Lakes Advisors LLC acquired a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 89,918 shares of the bank’s stock, valued at approximately $4,294,000.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE purchased a new position in shares of NBT Bancorp during the 3rd quarter worth approximately $57,000. GAMMA Investing LLC boosted its position in shares of NBT Bancorp by 66.5% during the 4th quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock worth $62,000 after purchasing an additional 517 shares during the period. Quest Partners LLC purchased a new position in shares of NBT Bancorp during the 3rd quarter worth approximately $57,000. Rialto Wealth Management LLC purchased a new position in shares of NBT Bancorp during the 4th quarter worth approximately $87,000. Finally, Crews Bank & Trust purchased a new position in shares of NBT Bancorp during the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Insider Activity

In other news, Director Heidi M. Hoeller acquired 678 shares of NBT Bancorp stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $242,250.00. Following the completion of the sale, the executive vice president now owns 25,564 shares in the company, valued at $1,238,575.80. The trade was a 16.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.32% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NBTB stock opened at $43.26 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 52 week low of $32.79 and a 52 week high of $52.44. The stock has a market capitalization of $2.04 billion, a PE ratio of 14.61 and a beta of 0.48. The firm has a 50 day moving average of $46.85 and a two-hundred day moving average of $47.07.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, January 27th. The bank reported $0.77 earnings per share 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 business earned $0.72 earnings per share. On average, research analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.14%. NBT Bancorp’s payout ratio is 45.95%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NBTB shares. StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson initiated coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target for the company. Finally, Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company 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.