Lisanti Capital Growth LLC Buys New Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Lisanti Capital Growth LLC purchased a new stake in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 43,170 shares of the bank's stock, valued at approximately $1,909,000. Lisanti Capital Growth LLC owned approximately 0.09% of NBT Bancorp as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its stake in NBT Bancorp by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank's stock valued at $34,000 after purchasing an additional 252 shares in the last quarter. Arizona State Retirement System increased its holdings in NBT Bancorp by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 13,199 shares of the bank's stock valued at $509,000 after purchasing an additional 258 shares in the last quarter. Inspire Investing LLC grew its holdings in NBT Bancorp by 3.7% during the 3rd quarter. Inspire Investing LLC now owns 9,378 shares of the bank's stock valued at $415,000 after purchasing an additional 331 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of NBT Bancorp by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank's stock worth $915,000 after buying an additional 400 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in NBT Bancorp by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 41,211 shares of the bank's stock valued at $1,512,000 after purchasing an additional 534 shares during the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Stock Up 2.4 %

Shares of NASDAQ:NBTB traded up $1.21 during trading hours on Monday, hitting $50.60. The company's stock had a trading volume of 268,903 shares, compared to its average volume of 205,845. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 17.95 and a beta of 0.49. NBT Bancorp Inc. has a 52 week low of $32.79 and a 52 week high of $51.73. The firm's fifty day moving average price is $45.11 and its 200 day moving average price is $42.27. 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 (NASDAQ:NBTB - Get Free Report) last released its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The firm had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. During the same period in the prior year, the firm earned $0.84 earnings per share. As a group, research analysts expect that NBT Bancorp Inc. will post 2.91 EPS for the current year.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 annualized dividend and a yield of 2.69%. NBT Bancorp's dividend payout ratio is presently 47.89%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NBTB. StockNews.com raised shares of NBT Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, October 30th. Stephens reaffirmed an "equal weight" rating and set a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. Finally, Raymond James downgraded NBT Bancorp from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $42.60.

Insider Transactions at NBT Bancorp

In related news, EVP Martin Randolph Sparks sold 1,000 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the transaction, the executive vice president now owns 15,003 shares in the company, valued at approximately $725,695.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Martin Randolph Sparks sold 1,000 shares of NBT Bancorp stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.37, for a total value of $48,370.00. Following the transaction, the executive vice president now owns 15,003 shares in the company, valued at $725,695.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director V Daniel Robinson II sold 20,000 shares of NBT Bancorp 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 sale, the director now owns 517,558 shares in the company, valued at approximately $22,824,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,556 shares of company stock worth $5,486,890. 3.32% of the stock is currently owned by company insiders.

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.