Canada Pension Plan Investment Board Acquires New Shares in NBT Bancorp Inc. (NASDAQ:NBTB)

Canada Pension Plan Investment Board bought a new position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 29,200 shares of the bank's stock, valued at approximately $1,395,000. Canada Pension Plan Investment Board owned 0.06% of NBT Bancorp at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of NBT Bancorp by 55.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank's stock worth $9,946,000 after acquiring an additional 80,232 shares during the period. Bank of New York Mellon Corp increased its stake in shares of NBT Bancorp by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank's stock valued at $32,632,000 after purchasing an additional 75,693 shares during the period. Barclays PLC raised its holdings in shares of NBT Bancorp by 41.8% during the third quarter. Barclays PLC now owns 91,880 shares of the bank's stock valued at $4,064,000 after buying an additional 27,085 shares during the last quarter. Lisanti Capital Growth LLC boosted its position in shares of NBT Bancorp by 53.0% during the fourth quarter. Lisanti Capital Growth LLC now owns 66,035 shares of the bank's stock worth $3,154,000 after buying an additional 22,865 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in NBT Bancorp by 68.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,582 shares of the bank's stock worth $4,095,000 after buying an additional 37,469 shares in the last quarter. 58.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Sarah A. Halliday sold 5,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the transaction, the executive vice president now owns 25,564 shares in the company, valued at $1,238,575.80. This trade represents a 16.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Heidi M. Hoeller acquired 678 shares of the business's stock in a transaction on Friday, February 7th. The shares were bought at an average price of $48.45 per share, for a total transaction of $32,849.10. Following the acquisition, the director now 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. 3.03% of the stock is currently owned by company insiders.

NBT Bancorp Trading Up 1.3 %

Shares of NBT Bancorp stock opened at $41.87 on Thursday. The business has a fifty day simple moving average of $43.03 and a 200-day simple moving average of $46.17. NBT Bancorp Inc. has a fifty-two week low of $34.47 and a fifty-two week high of $52.44. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 14.15 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 (NASDAQ:NBTB - Get Free Report) last issued its quarterly 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 quarter last year, the company earned $0.72 earnings per share. On average, equities analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors 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 3.25%. The ex-dividend date of this dividend was Monday, March 3rd. NBT Bancorp's payout ratio is 45.95%.

Analyst Ratings Changes

NBTB has been the topic of several recent analyst reports. Hovde Group began coverage on NBT Bancorp in a research note on Friday, March 21st. They set a "market perform" rating and a $50.00 target price on the stock. Stephens raised shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price objective for the company in a report on Wednesday, January 29th. Finally, StockNews.com cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $54.50.

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.

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