Ceredex Value Advisors LLC Boosts Stock Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Ceredex Value Advisors LLC lifted its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 327,700 shares of the bank's stock after purchasing an additional 18,400 shares during the period. Ceredex Value Advisors LLC owned approximately 0.69% of NBT Bancorp worth $15,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of NBT Bancorp during the 4th quarter valued at about $23,651,000. JPMorgan Chase & Co. boosted its holdings in NBT Bancorp by 307.0% in the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank's stock worth $17,998,000 after purchasing an additional 284,267 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in NBT Bancorp during the fourth quarter valued at about $12,007,000. Norges Bank acquired a new stake in NBT Bancorp in the 4th quarter worth approximately $6,736,000. Finally, Great Lakes Advisors LLC acquired a new position in NBT Bancorp during the fourth quarter valued at approximately $4,294,000. Institutional investors and hedge funds own 58.46% of the company's stock.

Insider Transactions at NBT Bancorp

In related news, Director Heidi M. Hoeller purchased 678 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average cost of $48.45 per share, with a total value of $32,849.10. Following the acquisition, the director now owns 6,437 shares of the company's stock, valued at $311,872.65. This trade represents a 11.77 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Sarah A. Halliday sold 5,000 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $48.45, for a total value of $242,250.00. Following the sale, the executive vice president now directly owns 25,564 shares in the company, valued at approximately $1,238,575.80. This trade represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. 3.32% of the stock is owned by company insiders.

NBT Bancorp Trading Down 0.8 %

Shares of NBTB traded down $0.33 during trading hours on Monday, hitting $39.43. 22,211 shares of the stock traded hands, compared to its average volume of 216,378. NBT Bancorp Inc. has a 1-year low of $34.47 and a 1-year high of $52.44. The firm has a market capitalization of $1.86 billion, a PE ratio of 13.32 and a beta of 0.53. 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 business has a fifty day moving average of $43.45 and a 200-day moving average of $46.26.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The bank reported $0.77 EPS 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 company posted $0.72 earnings per share. Analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Monday, March 3rd. NBT Bancorp's dividend payout ratio (DPR) is presently 45.95%.

Analyst Ratings Changes

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