Connor Clark & Lunn Investment Management Ltd. increased its stake in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 323.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,722 shares of the bank's stock after purchasing an additional 24,988 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of NBT Bancorp worth $1,563,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of NBTB. Geode Capital Management LLC grew its position in NBT Bancorp by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank's stock valued at $49,477,000 after acquiring an additional 10,628 shares during the last quarter. Bank of New York Mellon Corp grew its position in 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 acquiring an additional 75,693 shares during the last quarter. Victory Capital Management Inc. grew its position in NBT Bancorp by 8.1% in the fourth quarter. Victory Capital Management Inc. now owns 666,562 shares of the bank's stock valued at $31,835,000 after acquiring an additional 50,152 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in NBT Bancorp by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 595,349 shares of the bank's stock valued at $28,434,000 after acquiring an additional 9,713 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in NBT Bancorp in the fourth quarter valued at about $23,651,000. Institutional investors own 58.46% of the company's stock.
Insider Buying and Selling
In other NBT Bancorp news, EVP Sarah A. Halliday sold 5,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 25,564 shares of the company's stock, valued at approximately $1,238,575.80. The trade was a 16.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Heidi M. Hoeller purchased 678 shares of the company's stock in a transaction on Friday, February 7th. The stock was acquired at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the completion of the purchase, the director now owns 6,437 shares of the company's stock, 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 owned by insiders.
NBT Bancorp Trading Down 0.9 %
Shares of NBT Bancorp stock traded down $0.39 during midday trading on Friday, reaching $42.80. The company had a trading volume of 925,124 shares, compared to its average volume of 207,820. The stock has a fifty day moving average price of $46.54 and a 200 day moving average price of $46.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market cap of $2.02 billion, a PE ratio of 14.46 and a beta of 0.48. NBT Bancorp Inc. has a fifty-two week low of $32.93 and a fifty-two week high of $52.44.
NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted 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 return on equity of 9.39% and a net margin of 17.84%. During the same period last year, the business earned $0.72 earnings per share. On average, equities analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.
NBT Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, March 3rd. NBT Bancorp's dividend payout ratio is currently 45.95%.
Wall Street Analysts Forecast Growth
NBTB has been the topic of a number of recent analyst reports. Stephens upgraded NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 target price on the stock in a research report on Wednesday, January 29th. StockNews.com cut NBT Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price target on NBT Bancorp from $50.00 to $55.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. DA Davidson began coverage on NBT Bancorp in a report on Thursday, December 12th. They set a "neutral" rating and a $60.00 price target on the stock. Finally, Hovde Group began coverage on NBT Bancorp in a report on Friday. They set a "market perform" rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $54.50.
Check Out Our Latest Research Report on NBTB
NBT Bancorp Company Profile
(
Free Report)
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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