ExodusPoint Capital Management LP Has $1.38 Million Stock Position in NBT Bancorp Inc. (NASDAQ:NBTB)

ExodusPoint Capital Management LP raised its holdings in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 165.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,956 shares of the bank's stock after purchasing an additional 18,038 shares during the quarter. ExodusPoint Capital Management LP owned about 0.06% of NBT Bancorp worth $1,383,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in shares of NBT Bancorp by 16.6% during the fourth quarter. Franklin Resources Inc. now owns 86,855 shares of the bank's stock worth $4,148,000 after acquiring an additional 12,387 shares during the period. Schroder Investment Management Group grew its position in shares of NBT Bancorp by 11.8% in the fourth quarter. Schroder Investment Management Group now owns 175,942 shares of the bank's stock valued at $8,433,000 after purchasing an additional 18,626 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in NBT Bancorp during the fourth quarter worth $3,151,000. Norges Bank acquired a new position in NBT Bancorp in the 4th quarter valued at about $6,736,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of NBT Bancorp by 307.0% during the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank's stock valued at $17,998,000 after buying an additional 284,267 shares during the period. 58.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

NBT Bancorp Stock Performance

NBTB traded up $1.10 during trading hours on Tuesday, hitting $39.92. 45,523 shares of the stock were exchanged, compared to its average volume of 214,444. The stock has a 50-day simple moving average of $44.18 and a 200-day simple moving average of $46.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. NBT Bancorp Inc. has a 12 month low of $32.93 and a 12 month high of $52.44. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 13.48 and a beta of 0.53.

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

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.34 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 3.41%. NBT Bancorp's dividend payout ratio (DPR) is presently 45.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented 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 research note on Wednesday, January 29th. StockNews.com lowered NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, January 16th. Finally, Hovde Group initiated coverage on NBT Bancorp in a research report on Friday, March 21st. They set a "market perform" rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.