New Age Alpha Advisors LLC Invests $3.15 Million in NBT Bancorp Inc. (NASDAQ:NBTB)

New Age Alpha Advisors LLC purchased a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 65,981 shares of the bank's stock, valued at approximately $3,151,000. New Age Alpha Advisors LLC owned approximately 0.14% of NBT Bancorp as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted 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 purchasing an additional 10,628 shares in the last quarter. Bank of New York Mellon Corp boosted its position in NBT Bancorp by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank's stock valued at $32,632,000 after buying an additional 75,693 shares during the period. Victory Capital Management Inc. boosted its position in NBT Bancorp by 8.1% during the fourth quarter. Victory Capital Management Inc. now owns 666,562 shares of the bank's stock valued at $31,835,000 after buying an additional 50,152 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of NBT Bancorp by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 595,349 shares of the bank's stock worth $28,434,000 after buying an additional 9,713 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of NBT Bancorp in the 4th quarter valued at about $23,651,000. Institutional investors own 58.46% of the company's stock.

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NBT Bancorp Trading Down 6.2 %

NBT Bancorp stock traded down $2.66 during mid-day trading on Thursday, reaching $40.24. 41,141 shares of the company traded hands, compared to its average volume of 210,566. The firm's 50 day moving average price is $45.86 and its 200 day moving average price is $46.74. NBT Bancorp Inc. has a 52-week low of $32.93 and a 52-week high of $52.44. 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 firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 13.59 and a beta of 0.53.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the company earned $0.72 earnings per share. On average, analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Monday, March 3rd. NBT Bancorp's payout ratio is presently 45.95%.

Analyst Ratings Changes

NBTB has been the topic of several recent research reports. StockNews.com lowered NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, January 16th. Stephens raised shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 target price on the stock in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price target on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. DA Davidson started coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They issued a "neutral" rating and a $60.00 price objective on the stock. Finally, Hovde Group initiated coverage on shares of NBT Bancorp in a report on Friday, March 21st. They set a "market perform" rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $54.50.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director Heidi M. Hoeller acquired 678 shares of the company's stock in a transaction that occurred on 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 purchase, the director now directly owns 6,437 shares of the company's stock, valued at approximately $311,872.65. The trade was a 11.77 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $242,250.00. Following the transaction, the executive vice president now directly owns 25,564 shares of the company's stock, valued at $1,238,575.80. This represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. 3.32% of the stock is currently 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.