KLP Kapitalforvaltning AS Makes New $435,000 Investment in NBT Bancorp Inc. (NASDAQ:NBTB)

KLP Kapitalforvaltning AS bought a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,100 shares of the bank's stock, valued at approximately $435,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NBTB. FMR LLC lifted its stake in NBT Bancorp by 15.7% in the 3rd quarter. FMR LLC now owns 17,612 shares of the bank's stock worth $779,000 after purchasing an additional 2,393 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of NBT Bancorp by 68.7% in the third quarter. BNP Paribas Financial Markets now owns 15,616 shares of the bank's stock worth $691,000 after buying an additional 6,358 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in NBT Bancorp by 1.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,670 shares of the bank's stock valued at $5,558,000 after buying an additional 1,681 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in NBT Bancorp during the third quarter worth about $103,000. Finally, Centiva Capital LP bought a new position in NBT Bancorp in the 3rd quarter worth about $235,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Trading Up 4.7 %

Shares of NASDAQ NBTB traded up $1.81 during midday trading on Wednesday, reaching $40.45. The company had a trading volume of 368,387 shares, compared to its average volume of 214,091. The stock has a market cap of $1.91 billion, a PE ratio of 13.67 and a beta of 0.53. NBT Bancorp Inc. has a one year low of $32.93 and a one year high of $52.44. The firm's fifty day moving average price is $44.71 and its 200-day moving average price is $46.45. 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 announced its quarterly earnings data 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 net margin of 17.84% and a return on equity of 9.39%. During the same period in the prior year, the company posted $0.72 earnings per share. On average, equities research analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The company 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 annualized dividend and a yield of 3.36%. NBT Bancorp's payout ratio is currently 45.95%.

Wall Street Analysts Forecast Growth

NBTB has been the subject of several recent analyst reports. StockNews.com lowered NBT Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, January 16th. DA Davidson assumed coverage on shares of NBT Bancorp in a report on Thursday, December 12th. They issued a "neutral" rating and a $60.00 price target on the stock. Hovde Group started coverage on NBT Bancorp in a research note on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $54.50.

Insiders Place Their Bets

In other NBT Bancorp news, Director Heidi M. Hoeller bought 678 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average cost of $48.45 per share, with a total value of $32,849.10. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Sarah A. Halliday sold 5,000 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $48.45, for a total value of $242,250.00. Following the transaction, the executive vice president now owns 25,564 shares in the company, valued at approximately $1,238,575.80. This represents a 16.36 % decrease in their position. 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.