Bank of New York Mellon Corp Purchases 75,693 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Bank of New York Mellon Corp increased its position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 683,253 shares of the bank's stock after buying an additional 75,693 shares during the period. Bank of New York Mellon Corp owned 1.45% of NBT Bancorp worth $32,632,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Eagle Asset Management Inc. grew its stake in shares of NBT Bancorp by 76.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank's stock valued at $16,759,000 after buying an additional 163,952 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of NBT Bancorp by 55.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank's stock valued at $9,946,000 after buying an additional 80,232 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of NBT Bancorp in the 3rd quarter valued at about $439,000. Barclays PLC grew its stake in shares of NBT Bancorp by 41.8% in the 3rd quarter. Barclays PLC now owns 91,880 shares of the bank's stock valued at $4,064,000 after buying an additional 27,085 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of NBT Bancorp by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank's stock valued at $49,477,000 after buying an additional 10,628 shares during the period. 58.46% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. StockNews.com downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, January 16th. DA Davidson started coverage on NBT Bancorp in a report on Thursday, December 12th. They set a "neutral" rating and a $60.00 price objective for the company. Stephens raised NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price objective for the company in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods increased their price objective 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.75.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, Director Heidi M. Hoeller bought 678 shares of the stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the purchase, the director now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction on Monday, February 10th. The stock was 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 $1,238,575.80. The trade was a 16.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,694 shares of company stock worth $277,935 in the last ninety days. Company insiders own 3.32% of the company's stock.

NBT Bancorp Stock Down 0.5 %

NASDAQ:NBTB traded down $0.22 during trading hours on Friday, hitting $44.34. 185,411 shares of the company traded hands, compared to its average volume of 193,846. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm's 50-day simple moving average is $47.33 and its 200-day simple moving average is $47.23. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $52.44. The company has a market cap of $2.10 billion, a PE ratio of 14.98 and a beta of 0.48.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the firm earned $0.72 EPS. Equities analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, March 3rd. NBT Bancorp's payout ratio is 45.95%.

About NBT Bancorp

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.