Burney Co. Invests $441,000 in NBT Bancorp Inc. (NASDAQ:NBTB)

Burney Co. purchased a new position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,242 shares of the bank's stock, valued at approximately $441,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Eagle Asset Management Inc. boosted its stake in NBT Bancorp by 76.3% during the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank's stock valued at $16,759,000 after buying an additional 163,952 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of NBT Bancorp by 55.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank's stock valued at $9,946,000 after acquiring an additional 80,232 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of NBT Bancorp in the third quarter valued at $439,000. Barclays PLC increased its position in NBT Bancorp by 41.8% in the third quarter. Barclays PLC now owns 91,880 shares of the bank's stock worth $4,064,000 after purchasing an additional 27,085 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in NBT Bancorp during the second quarter valued at $1,974,000. Institutional investors own 58.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NBTB shares. Keefe, Bruyette & Woods lifted their price objective 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. StockNews.com cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, DA Davidson assumed coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They issued a "neutral" rating and a $60.00 price objective on the stock. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $48.80.

Insider Activity

In related news, EVP Amy Wiles sold 1,000 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $50.10, for a total transaction of $50,100.00. Following the completion of the sale, the executive vice president now directly owns 27,909 shares in the company, valued at $1,398,240.90. This represents a 3.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John H. Watt, Jr. sold 20,000 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total value of $909,000.00. Following the sale, the director now directly owns 143,101 shares in the company, valued at approximately $6,503,940.45. The trade was a 12.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,694 shares of company stock worth $4,048,185. Company insiders own 3.32% of the company's stock.

NBT Bancorp Trading Up 1.5 %

NBTB stock traded up $0.70 during trading on Friday, hitting $47.86. The company had a trading volume of 467,878 shares, compared to its average volume of 253,426. The firm has a market capitalization of $2.26 billion, a P/E ratio of 16.85 and a beta of 0.53. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 52-week low of $32.79 and a 52-week high of $52.44. The company has a 50 day simple moving average of $49.05 and a 200-day simple moving average of $46.53.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The firm had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. As a group, research analysts forecast that NBT Bancorp Inc. will post 2.95 earnings per share for the current fiscal 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 given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Monday, December 2nd. NBT Bancorp's payout ratio is 47.89%.

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.