JPMorgan Chase & Co. Has $18 Million Stock Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

JPMorgan Chase & Co. increased its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 307.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 376,849 shares of the bank's stock after buying an additional 284,267 shares during the period. JPMorgan Chase & Co. owned 0.80% of NBT Bancorp worth $17,998,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of NBT Bancorp by 66.5% in the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank's stock valued at $62,000 after purchasing an additional 517 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in NBT Bancorp during the 4th quarter valued at approximately $87,000. US Bancorp DE grew its holdings in NBT Bancorp by 42.0% in the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank's stock valued at $88,000 after buying an additional 543 shares during the last quarter. Crews Bank & Trust bought a new position in NBT Bancorp in the 4th quarter worth approximately $98,000. Finally, KBC Group NV lifted its holdings in shares of NBT Bancorp by 47.5% during the fourth quarter. KBC Group NV now owns 2,152 shares of the bank's stock worth $103,000 after buying an additional 693 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Price Performance

NASDAQ NBTB traded up $0.75 during trading on Tuesday, reaching $39.57. 269,723 shares of the company traded hands, compared to its average volume of 215,322. NBT Bancorp Inc. has a 1-year low of $32.93 and a 1-year high of $52.44. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 13.37 and a beta of 0.53. The stock's 50 day moving average price is $44.18 and its two-hundred day moving average price is $46.36. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87.

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NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share 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. As a group, analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.36 annualized dividend and a yield of 3.44%. NBT Bancorp's payout ratio is 45.95%.

Analyst Ratings Changes

A number of brokerages have weighed in on NBTB. Stephens raised shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price target for the company in a report on Wednesday, January 29th. StockNews.com downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, January 16th. Finally, Hovde Group started coverage on NBT Bancorp in a research report on Friday, March 21st. They issued a "market perform" rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $54.50.

Insiders Place Their Bets

In related news, Director Heidi M. Hoeller acquired 678 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $48.45 per share, for a total transaction of $32,849.10. Following the transaction, the director now directly 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 acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sarah A. Halliday sold 5,000 shares of the stock in a transaction 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 in the company, valued at $1,238,575.80. The trade was a 16.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.