NBT Bancorp Inc. (NASDAQ:NBTB) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 228,699 shares of the bank's stock after buying an additional 6,395 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of NBT Bancorp worth $10,923,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. US Bancorp DE purchased a new position in NBT Bancorp in the third quarter valued at about $57,000. Quest Partners LLC acquired a new position in shares of NBT Bancorp in the 3rd quarter valued at approximately $57,000. GAMMA Investing LLC boosted its stake in shares of NBT Bancorp by 66.5% during the 4th quarter. GAMMA Investing LLC now owns 1,295 shares of the bank's stock valued at $62,000 after buying an additional 517 shares during the last quarter. Crews Bank & Trust purchased a new position in shares of NBT Bancorp during the 4th quarter valued at approximately $98,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NBT Bancorp during the third quarter worth approximately $103,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Stephens raised shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price target on the stock in a report on Wednesday, January 29th. DA Davidson initiated coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They issued a "neutral" rating and a $60.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on NBT Bancorp from $50.00 to $55.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Finally, StockNews.com lowered NBT Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.75.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock traded down $0.44 during trading hours on Monday, reaching $47.31. The company's stock had a trading volume of 219,956 shares, compared to its average volume of 188,336. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $52.44. The company's 50 day simple moving average is $47.70 and its 200 day simple moving average is $47.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $2.23 billion, a P/E ratio of 15.98 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its earnings results on Monday, January 27th. The bank reported $0.77 EPS 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 last year, the company earned $0.72 earnings per share. As a group, analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Monday, March 3rd. NBT Bancorp's dividend payout ratio is presently 45.95%.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, EVP Sarah A. Halliday sold 5,000 shares of the firm'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 sale, the executive vice president now owns 25,564 shares in the company, valued at approximately $1,238,575.80. This trade represents a 16.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Heidi M. Hoeller acquired 678 shares of NBT Bancorp stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $48.45 per share, with a total value of $32,849.10. Following the completion of the transaction, the director now 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 disclosure for this purchase can be found here. Over the last three months, insiders have sold 5,694 shares of company stock worth $277,935. 3.32% of the stock is owned by insiders.

NBT Bancorp 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.