ExodusPoint Capital Management LP Buys 18,038 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

ExodusPoint Capital Management LP raised its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 165.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,956 shares of the bank’s stock after purchasing an additional 18,038 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.06% of NBT Bancorp worth $1,383,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NBTB. GAMMA Investing LLC lifted its position in shares of NBT Bancorp by 66.5% in the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock valued at $62,000 after buying an additional 517 shares during the last quarter. US Bancorp DE lifted its position in shares of NBT Bancorp by 42.0% in the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock valued at $88,000 after buying an additional 543 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of NBT Bancorp by 27.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank’s stock valued at $132,000 after buying an additional 597 shares during the last quarter. KBC Group NV lifted its position in shares of NBT Bancorp by 47.5% in the fourth quarter. KBC Group NV now owns 2,152 shares of the bank’s stock valued at $103,000 after buying an additional 693 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in NBT Bancorp by 0.8% during the 4th quarter. Swiss National Bank now owns 92,800 shares of the bank’s stock worth $4,432,000 after purchasing an additional 700 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NBTB shares. Stephens raised NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Wednesday, January 29th. DA Davidson started coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target for the company. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Finally, Hovde Group assumed coverage on NBT Bancorp in a report on Friday, March 21st. They issued a “market perform” rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $54.50.

Insider Buying and Selling

In related news, EVP Sarah A. Halliday sold 5,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $48.45, for a total transaction of $242,250.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Heidi M. Hoeller bought 678 shares of the business’s stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the completion of the acquisition, the director now directly owns 6,437 shares in the company, valued at approximately $311,872.65. This trade represents a 11.77 % increase in their position. The disclosure for this purchase can be found here. 3.32% of the stock is currently owned by corporate insiders.

NBT Bancorp Trading Up 4.7 %

Shares of NBTB opened at $40.45 on Thursday. NBT Bancorp Inc. has a 52-week low of $32.93 and a 52-week high of $52.44. The business’s fifty day moving average is $44.71 and its 200-day moving average is $46.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 13.67 and a beta of 0.53.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate 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. Equities analysts anticipate 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 was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 3.36%. NBT Bancorp’s dividend payout ratio is currently 45.95%.

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.