Legato Capital Management LLC increased its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 102.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,835 shares of the bank's stock after buying an additional 7,515 shares during the quarter. Legato Capital Management LLC's holdings in NBT Bancorp were worth $709,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Eagle Asset Management Inc. grew its holdings in shares of NBT Bancorp by 76.3% in the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank's stock valued at $16,759,000 after acquiring an additional 163,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in NBT Bancorp by 55.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank's stock worth $9,946,000 after purchasing an additional 80,232 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in NBT Bancorp in the 3rd quarter valued at $439,000. Barclays PLC increased its position in shares of NBT Bancorp by 41.8% during the 3rd quarter. Barclays PLC now owns 91,880 shares of the bank's stock valued at $4,064,000 after purchasing an additional 27,085 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of NBT Bancorp by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank's stock worth $49,477,000 after purchasing an additional 10,628 shares during the period. 58.46% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, EVP Sarah A. Halliday sold 5,000 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 25,564 shares in the company, valued at approximately $1,238,575.80. This represents a 16.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amy Wiles sold 500 shares of the firm's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $51.31, for a total transaction of $25,655.00. Following the sale, the executive vice president now owns 27,409 shares in the company, valued at approximately $1,406,355.79. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,694 shares of company stock valued at $778,535. Corporate insiders own 3.32% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. DA Davidson started coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a "neutral" rating and a $60.00 target price for the company. Stephens upgraded 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 research note on Wednesday, January 29th. Finally, StockNews.com downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.75.
Check Out Our Latest Analysis on NBTB
NBT Bancorp Stock Performance
Shares of NBTB traded up $0.01 during trading hours on Monday, hitting $48.05. The company's stock had a trading volume of 94,193 shares, compared to its average volume of 205,258. The business has a 50 day simple moving average of $48.27 and a two-hundred day simple moving average of $47.09. NBT Bancorp Inc. has a 52-week low of $32.79 and a 52-week high of $52.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 16.23 and a beta of 0.52.
NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $0.72 earnings per share. On average, equities analysts expect that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.
NBT Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.83%. NBT Bancorp's payout ratio is 45.95%.
NBT Bancorp Company Profile
(
Free Report)
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.
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