4,897 Shares in NBT Bancorp Inc. (NASDAQ:NBTB) Bought by Focused Wealth Management Inc

Focused Wealth Management Inc bought a new stake in NBT Bancorp Inc. (NASDAQ:NBTB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,897 shares of the bank’s stock, valued at approximately $217,000.

Several other hedge funds have also recently added to or reduced their stakes in NBTB. Victory Capital Management Inc. lifted its position in NBT Bancorp by 540.2% in the 2nd quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock valued at $27,147,000 after acquiring an additional 593,436 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of NBT Bancorp by 36.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock worth $24,307,000 after buying an additional 169,180 shares during the last quarter. Deprince Race & Zollo Inc. lifted its position in NBT Bancorp by 14.9% during the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after acquiring an additional 107,404 shares during the last quarter. Ceredex Value Advisors LLC boosted its holdings in shares of NBT Bancorp by 40.9% during the third quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock worth $13,680,000 after acquiring an additional 89,800 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in NBT Bancorp by 978.7% in the 1st quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock valued at $3,318,000 after buying an additional 82,071 shares in the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Stock Performance

NBTB stock opened at $44.93 on Wednesday. NBT Bancorp Inc. has a 12-month low of $32.79 and a 12-month high of $50.83. The business has a 50 day moving average of $45.07 and a 200-day moving average of $41.97. 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 firm has a market cap of $2.12 billion, a PE ratio of 15.82 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The business had revenue of $202.00 million during the quarter, compared to analyst estimates of $144.70 million. During the same period in the previous year, the business earned $0.84 EPS. As a group, sell-side analysts expect that NBT Bancorp Inc. will post 2.89 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NBTB. StockNews.com raised NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Stephens reissued an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. Finally, Raymond James downgraded NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.60.

Insiders Place Their Bets

In related news, Director V Daniel Robinson II sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the transaction, the director now owns 517,558 shares in the company, valued at $22,824,307.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Amy Wiles sold 556 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $25,020.00. Following the sale, the executive vice president now directly owns 28,909 shares of the company’s stock, valued at $1,300,905. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the sale, the director now owns 517,558 shares of the company’s stock, valued at $22,824,307.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,556 shares of company stock valued at $5,436,790 over the last three months. Insiders own 3.32% of the company’s stock.

NBT Bancorp Company 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.