Franklin Resources Inc. Raises Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Franklin Resources Inc. grew its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 16.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,855 shares of the bank's stock after purchasing an additional 12,387 shares during the period. Franklin Resources Inc. owned approximately 0.18% of NBT Bancorp worth $4,148,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Schroder Investment Management Group grew its stake in shares of NBT Bancorp by 11.8% in the 4th quarter. Schroder Investment Management Group now owns 175,942 shares of the bank's stock worth $8,433,000 after buying an additional 18,626 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in NBT Bancorp in the fourth quarter worth about $3,151,000. Norges Bank purchased a new stake in NBT Bancorp during the fourth quarter valued at approximately $6,736,000. JPMorgan Chase & Co. lifted its stake in shares of NBT Bancorp by 307.0% in the 4th quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank's stock valued at $17,998,000 after purchasing an additional 284,267 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of NBT Bancorp in the 4th quarter worth approximately $435,000. 58.46% of the stock is owned by institutional investors.

NBT Bancorp Trading Up 0.2 %

Shares of NBT Bancorp stock traded up $0.06 on Thursday, hitting $39.64. 43,325 shares of the company traded hands, compared to its average volume of 215,420. NBT Bancorp Inc. has a 52 week low of $33.00 and a 52 week high of $52.44. The company has a market cap of $1.87 billion, a PE ratio of 13.41 and a beta of 0.53. The stock's 50 day moving average price is $43.81 and its 200-day moving average price is $46.26. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its earnings results on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the firm earned $0.72 earnings per share. Equities research analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The firm also recently announced 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. This represents a $1.36 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Monday, March 3rd. NBT Bancorp's dividend payout ratio (DPR) is 45.95%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, January 16th. Stephens raised NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price target for the company in a research note on Wednesday, January 29th. Finally, Hovde Group began coverage on NBT Bancorp in a research report on Friday, March 21st. They issued a "market perform" rating and a $50.00 price objective 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $54.50.

Insider Activity

In related news, EVP Sarah A. Halliday sold 5,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 25,564 shares of the company's stock, valued at $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 SEC, which is available at the SEC website. Also, Director Heidi M. Hoeller bought 678 shares of the company's stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the transaction, the director now directly owns 6,437 shares in the company, valued at approximately $311,872.65. This represents a 11.77 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.32% of the company's stock.

About NBT Bancorp

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.