Savant Capital LLC Sells 37,758 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Savant Capital LLC lessened its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 53.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,256 shares of the bank's stock after selling 37,758 shares during the period. Savant Capital LLC owned approximately 0.07% of NBT Bancorp worth $1,588,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of NBT Bancorp by 47.9% during the third quarter. GAMMA Investing LLC now owns 778 shares of the bank's stock valued at $34,000 after acquiring an additional 252 shares in the last quarter. US Bancorp DE purchased a new stake in NBT Bancorp during the 3rd quarter valued at about $57,000. Quest Partners LLC purchased a new stake in NBT Bancorp during the 3rd quarter valued at about $57,000. Crews Bank & Trust bought a new stake in NBT Bancorp during the 4th quarter valued at about $98,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in NBT Bancorp in the third quarter worth about $103,000. Hedge funds and other institutional investors own 58.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NBTB. DA Davidson started coverage on shares of NBT Bancorp in a report on Thursday, December 12th. They set a "neutral" rating and a $60.00 price target on the stock. Keefe, Bruyette & Woods increased their target price on NBT Bancorp from $50.00 to $55.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com cut NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, January 16th. Finally, Stephens raised NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price objective on the stock in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.75.

Insider Buying and Selling

In related news, EVP Amy Wiles sold 500 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the transaction, the executive vice president now directly owns 27,409 shares of the company's stock, valued at approximately $1,406,355.79. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction 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 owns 25,564 shares in the company, valued at $1,238,575.80. This trade represents a 16.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,694 shares of company stock valued at $778,535. 3.32% of the stock is owned by insiders.

NBT Bancorp Stock Performance

NASDAQ:NBTB traded up $0.01 during trading hours on Monday, reaching $48.05. The company had a trading volume of 94,193 shares, compared to its average volume of 205,258. The firm's 50 day moving average price is $48.27 and its 200-day moving average price is $47.09. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 16.23 and a beta of 0.52. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 52 week low of $32.79 and a 52 week high of $52.44.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued 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 period in the prior year, the business posted $0.72 earnings per share. On average, analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, March 3rd. NBT Bancorp's dividend payout ratio (DPR) is presently 45.95%.

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.