Assenagon Asset Management S.A. Invests $12.01 Million in NBT Bancorp Inc. (NASDAQ:NBTB)

Assenagon Asset Management S.A. purchased a new position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 251,396 shares of the bank's stock, valued at approximately $12,007,000. Assenagon Asset Management S.A. owned approximately 0.53% of NBT Bancorp at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NBTB. GAMMA Investing LLC grew its position in shares of NBT Bancorp by 47.9% during the third quarter. GAMMA Investing LLC now owns 778 shares of the bank's stock valued at $34,000 after purchasing an additional 252 shares in the last quarter. US Bancorp DE bought a new position in NBT Bancorp during the 3rd quarter worth about $57,000. Quest Partners LLC bought a new stake in shares of NBT Bancorp in the 3rd quarter valued at about $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of NBT Bancorp in the 3rd quarter worth approximately $103,000. Finally, Focused Wealth Management Inc bought a new position in shares of NBT Bancorp during the third quarter valued at approximately $217,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NBT Bancorp

In related news, EVP Amy Wiles sold 500 shares of NBT Bancorp stock in a transaction on Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the transaction, the executive vice president now directly owns 27,409 shares in the company, valued at approximately $1,406,355.79. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John H. Watt, Jr. sold 20,000 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total value of $909,000.00. Following the transaction, the director now directly owns 143,101 shares of the company's stock, valued at approximately $6,503,940.45. This represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,694 shares of company stock worth $4,048,185 in the last ninety days. Insiders own 3.32% of the company's stock.

NBT Bancorp Price Performance

NASDAQ:NBTB traded up $0.70 during trading hours on Friday, reaching $47.86. 467,878 shares of the company were exchanged, compared to its average volume of 253,426. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.26 billion, a PE ratio of 16.85 and a beta of 0.53. NBT Bancorp Inc. has a twelve month low of $32.79 and a twelve month high of $52.44. The stock's 50-day moving average is $49.05 and its 200-day moving average is $46.53.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period last year, the company posted $0.84 EPS. On average, sell-side analysts anticipate that NBT Bancorp Inc. will post 2.95 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Monday, December 2nd. NBT Bancorp's dividend payout ratio (DPR) is 47.89%.

Analyst Upgrades and Downgrades

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

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.