Great Lakes Advisors LLC Purchases New Stake in NBT Bancorp Inc. (NASDAQ:NBTB)

Great Lakes Advisors LLC purchased a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 89,918 shares of the bank's stock, valued at approximately $4,294,000. Great Lakes Advisors LLC owned about 0.19% of NBT Bancorp at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. US Bancorp DE acquired a new stake in NBT Bancorp in the third quarter valued at $57,000. GAMMA Investing LLC boosted its stake in shares of NBT Bancorp by 66.5% during the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank's stock valued at $62,000 after acquiring an additional 517 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of NBT Bancorp during the third quarter valued at $57,000. Rialto Wealth Management LLC acquired a new stake in shares of NBT Bancorp during the fourth quarter valued at $87,000. Finally, Crews Bank & Trust acquired a new stake in shares of NBT Bancorp during the fourth quarter valued at $98,000. Hedge funds and other institutional investors own 58.46% of the company's stock.

Insiders Place Their Bets

In other news, EVP Sarah A. Halliday sold 5,000 shares of the company's 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 sale, the executive vice president now owns 25,564 shares in the company, valued at $1,238,575.80. This represents a 16.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Heidi M. Hoeller acquired 678 shares of the business's stock in a transaction dated Friday, February 7th. The stock was purchased at an average price 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 approximately $311,872.65. This trade represents a 11.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.32% of the stock is currently owned by insiders.

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Analyst Ratings Changes

NBTB has been the topic of a number of research analyst reports. StockNews.com lowered NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, January 16th. DA Davidson began coverage on NBT Bancorp in a research note on Thursday, December 12th. They issued a "neutral" rating and a $60.00 price target on the stock. Stephens upgraded NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price objective on the stock in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price objective on NBT Bancorp from $50.00 to $55.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $51.75.

NBT Bancorp Stock Up 0.2 %

Shares of NBTB traded up $0.08 during trading on Wednesday, reaching $43.46. The company's stock had a trading volume of 258,291 shares, compared to its average volume of 206,720. The company has a fifty day moving average of $46.71 and a two-hundred day moving average of $46.97. NBT Bancorp Inc. has a twelve month low of $32.79 and a twelve month high of $52.44. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 14.68 and a beta of 0.48. 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 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 in the prior year, the company earned $0.72 EPS. On average, sell-side analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal 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 of this dividend was Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 3.13%. NBT Bancorp's dividend payout ratio (DPR) is presently 45.95%.

NBT Bancorp 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.