Connor Clark & Lunn Investment Management Ltd. Purchases 24,988 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 323.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,722 shares of the bank’s stock after purchasing an additional 24,988 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of NBT Bancorp worth $1,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in NBTB. GAMMA Investing LLC increased its holdings in NBT Bancorp by 66.5% in the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock worth $62,000 after purchasing an additional 517 shares in the last quarter. US Bancorp DE increased its stake in shares of NBT Bancorp by 42.0% in the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock valued at $88,000 after acquiring an additional 543 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of NBT Bancorp by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank’s stock valued at $132,000 after acquiring an additional 597 shares in the last quarter. KBC Group NV lifted its position in shares of NBT Bancorp by 47.5% during the 4th quarter. KBC Group NV now owns 2,152 shares of the bank’s stock valued at $103,000 after acquiring an additional 693 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in NBT Bancorp by 12.9% during the fourth quarter. Handelsbanken Fonder AB now owns 10,495 shares of the bank’s stock worth $501,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors own 58.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on NBTB shares. DA Davidson assumed coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target for the company. Stephens raised NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price target on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB opened at $43.46 on Thursday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 14.68 and a beta of 0.48. 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 fifty-two week low of $32.79 and a fifty-two week high of $52.44. The firm’s 50-day simple moving average is $46.65 and its 200 day simple moving average is $46.95.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results 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 period in the prior year, the business posted $0.72 earnings per share. As a group, research analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Monday, March 3rd. NBT Bancorp’s dividend payout ratio is 45.95%.

Insider Transactions at NBT Bancorp

In related news, EVP Sarah A. Halliday sold 5,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were 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 in the company, valued at approximately $1,238,575.80. The trade was a 16.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Heidi M. Hoeller acquired 678 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was purchased at an average price of $48.45 per share, with a total value of $32,849.10. Following the purchase, the director now owns 6,437 shares in the company, valued at approximately $311,872.65. The trade was a 11.77 % increase in their position. The disclosure for this purchase can be found here. Company 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.