Landscape Capital Management L.L.C. Makes New $439,000 Investment in NBT Bancorp Inc. (NASDAQ:NBTB)

Landscape Capital Management L.L.C. acquired a new position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,926 shares of the bank's stock, valued at approximately $439,000.

A number of other institutional investors have also made changes to their positions in NBTB. Edgestream Partners L.P. acquired a new position in shares of NBT Bancorp in the 2nd quarter worth approximately $1,974,000. Ceredex Value Advisors LLC raised its position in NBT Bancorp by 2.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank's stock worth $8,473,000 after purchasing an additional 5,500 shares during the last quarter. Raymond James & Associates raised its position in NBT Bancorp by 3.9% in the 3rd quarter. Raymond James & Associates now owns 95,062 shares of the bank's stock worth $4,205,000 after purchasing an additional 3,540 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in NBT Bancorp in the 3rd quarter worth approximately $1,909,000. Finally, US Bancorp DE bought a new stake in shares of NBT Bancorp during the 3rd quarter valued at $57,000. 58.46% of the stock is currently owned by institutional investors.

Insider Transactions at NBT Bancorp

In other news, Director V Daniel Robinson II sold 20,000 shares of the business's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the sale, the director now directly owns 517,558 shares of the company's stock, valued at $22,824,307.80. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John H. Watt, Jr. sold 10,000 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $49.40, for a total transaction of $494,000.00. Following the transaction, the director now owns 125,301 shares in the company, valued at approximately $6,189,869.40. This trade represents a 7.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,556 shares of company stock worth $8,039,690. Company insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

NBTB has been the subject of several recent research reports. StockNews.com upgraded shares of NBT Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, October 30th. Stephens reaffirmed an "equal weight" rating and issued a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $42.60.

NBT Bancorp Stock Performance

NBT Bancorp stock traded up $1.20 during trading hours on Monday, hitting $51.65. The company had a trading volume of 96,707 shares, compared to its average volume of 203,900. The firm has a market cap of $2.44 billion, a PE ratio of 17.76 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $52.31. The firm has a 50-day moving average of $45.81 and a 200 day moving average of $43.21.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $202.00 million for the quarter, compared to analysts' expectations of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period last year, the firm earned $0.84 earnings per share. On average, sell-side analysts expect that NBT Bancorp Inc. will post 2.91 earnings per share for the current year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.34 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.63%. NBT Bancorp's dividend payout ratio is currently 47.89%.

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.