Burney Co. Acquires Shares of 9,242 NBT Bancorp Inc. (NASDAQ:NBTB)

Burney Co. bought a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,242 shares of the bank’s stock, valued at approximately $441,000.

Several other large investors have also made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new position in NBT Bancorp during the fourth quarter worth $12,007,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of NBT Bancorp by 55.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock worth $9,946,000 after purchasing an additional 80,232 shares in the last quarter. GAMMA Investing LLC raised 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 last quarter. JPMorgan Chase & Co. lifted its stake in NBT Bancorp by 68.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,582 shares of the bank’s stock valued at $4,095,000 after buying an additional 37,469 shares in the last quarter. Finally, Fidelity D & D Bancorp Inc. acquired a new stake in NBT Bancorp in the 3rd quarter worth about $218,000. 58.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. DA Davidson assumed coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price for the company. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.80.

Insider Activity

In related news, Director John H. Watt, Jr. sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the completion of the sale, the director now directly owns 143,101 shares of the company’s stock, valued at approximately $6,503,940.45. This trade represents a 12.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the completion of the transaction, the director now directly owns 38,853 shares in the company, valued at $1,999,763.91. The trade was a 50.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,694 shares of company stock valued at $4,048,185. 3.32% of the stock is currently owned by company insiders.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $47.86 on Friday. The business’s 50 day moving average price is $49.05 and its 200 day moving average price is $46.47. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 16.85 and a beta of 0.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same quarter in the previous year, the firm earned $0.84 EPS. On average, research analysts predict that NBT Bancorp Inc. will post 2.95 EPS for the current year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.34 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.84%. NBT Bancorp’s dividend payout ratio is currently 47.89%.

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.