JPMorgan Chase & Co. Has $4.10 Million Stock Position in NBT Bancorp Inc. (NASDAQ:NBTB)

JPMorgan Chase & Co. increased its position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 68.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,582 shares of the bank's stock after acquiring an additional 37,469 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of NBT Bancorp worth $4,095,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NBTB. GAMMA Investing LLC boosted its position in NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank's stock worth $34,000 after acquiring an additional 252 shares during the period. Inspire Investing LLC lifted its holdings in NBT Bancorp by 3.7% in the third quarter. Inspire Investing LLC now owns 9,378 shares of the bank's stock worth $415,000 after purchasing an additional 331 shares during the period. US Bancorp DE bought a new position in NBT Bancorp in the 3rd quarter valued at about $57,000. Quest Partners LLC acquired a new position in NBT Bancorp during the 3rd quarter valued at about $57,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NBT Bancorp by 1.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,670 shares of the bank's stock worth $5,558,000 after buying an additional 1,681 shares in the last quarter. 58.46% of the stock is currently owned by institutional investors.

NBT Bancorp Price Performance

Shares of NBTB traded up $0.70 during trading hours on Friday, hitting $47.86. 467,878 shares of the company were exchanged, compared to its average volume of 253,426. 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 capitalization of $2.26 billion, a PE ratio of 16.85 and a beta of 0.53. The firm has a fifty day simple moving average of $49.05 and a 200-day simple moving average of $46.47. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $52.44.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly 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 return on equity of 9.36% and a net margin of 17.37%. The firm had revenue of $202.00 million for the quarter, compared to analysts' expectations of $144.70 million. During the same quarter last year, the business posted $0.84 EPS. As a group, sell-side analysts predict that NBT Bancorp Inc. will post 2.95 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.34 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.84%. NBT Bancorp's dividend payout ratio is 47.89%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NBTB shares. StockNews.com cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a report on Thursday. Keefe, Bruyette & Woods lifted their price target on NBT Bancorp from $50.00 to $55.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, DA Davidson began coverage on NBT Bancorp in a research note on Thursday, December 12th. They issued a "neutral" rating and a $60.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NBT Bancorp currently has a consensus rating of "Hold" and a consensus target price of $48.80.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, Director Timothy E. Delaney sold 40,000 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the sale, the director now directly owns 38,853 shares of the company's stock, valued at $1,999,763.91. The trade was a 50.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John H. Watt, Jr. sold 20,000 shares of the firm's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total transaction of $909,000.00. Following the transaction, the director now owns 143,101 shares in the company, valued at $6,503,940.45. This represents a 12.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,694 shares of company stock valued at $4,048,185 over the last three months. 3.32% of the stock is owned by corporate 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.