Guggenheim Capital LLC Purchases 9,005 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Guggenheim Capital LLC boosted its stake in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,894 shares of the bank's stock after purchasing an additional 9,005 shares during the quarter. Guggenheim Capital LLC owned about 0.23% of NBT Bancorp worth $5,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of NBTB. Barclays PLC increased its holdings in shares of NBT Bancorp by 3.0% in the fourth quarter. Barclays PLC now owns 94,673 shares of the bank's stock worth $4,522,000 after buying an additional 2,793 shares during the period. Summit Investment Advisors Inc. increased its stake in NBT Bancorp by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,815 shares of the bank's stock worth $230,000 after purchasing an additional 310 shares during the period. Sterling Capital Management LLC lifted its position in NBT Bancorp by 817.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock valued at $69,000 after purchasing an additional 1,292 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of NBT Bancorp during the fourth quarter valued at approximately $23,651,000. Finally, Invesco Ltd. grew its holdings in shares of NBT Bancorp by 0.5% in the fourth quarter. Invesco Ltd. now owns 150,819 shares of the bank's stock worth $7,203,000 after purchasing an additional 814 shares during the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Stock Performance

Shares of NASDAQ:NBTB traded up $0.77 during midday trading on Wednesday, reaching $42.12. 60,987 shares of the company's stock traded hands, compared to its average volume of 217,245. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp Inc. has a one year low of $34.47 and a one year high of $52.44. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 14.23 and a beta of 0.53. The stock has a 50 day moving average of $43.16 and a 200 day moving average of $46.20.

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 the consensus estimate 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 quarter in the prior year, the firm posted $0.72 EPS. As a group, equities research analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Monday, March 3rd. NBT Bancorp's dividend payout ratio (DPR) is presently 45.95%.

Insider Buying and Selling

In other news, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction dated Monday, February 10th. The stock was 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 of the company's stock, valued at $1,238,575.80. The trade was a 16.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Heidi M. Hoeller acquired 678 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $48.45 per share, with a total value of $32,849.10. Following the completion of the purchase, the director now owns 6,437 shares in the company, valued at $311,872.65. This trade represents a 11.77 % increase in their position. The disclosure for this purchase can be found here. 3.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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