Norges Bank Purchases New Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Norges Bank bought a new position in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 141,031 shares of the bank's stock, valued at approximately $6,736,000. Norges Bank owned about 0.30% of NBT Bancorp at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in NBT Bancorp by 66.5% during the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank's stock worth $62,000 after acquiring an additional 517 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of NBT Bancorp in the 4th quarter valued at about $87,000. US Bancorp DE lifted its position in NBT Bancorp by 42.0% in the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank's stock worth $88,000 after buying an additional 543 shares in the last quarter. Crews Bank & Trust acquired a new stake in NBT Bancorp during the fourth quarter valued at $98,000. Finally, KBC Group NV grew its stake in shares of NBT Bancorp by 47.5% in the 4th quarter. KBC Group NV now owns 2,152 shares of the bank's stock valued at $103,000 after buying an additional 693 shares in the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Price Performance

Shares of NBTB stock traded up $0.15 during trading hours on Monday, reaching $38.77. 9,375 shares of the company were exchanged, compared to its average volume of 214,126. 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 cap of $1.83 billion, a price-to-earnings ratio of 13.08 and a beta of 0.53. The stock's fifty day moving average is $44.37 and its two-hundred day moving average is $46.39. NBT Bancorp Inc. has a fifty-two week low of $32.93 and a fifty-two week high of $52.44.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share 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 EPS. Sell-side analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.36 annualized dividend and a yield of 3.51%. NBT Bancorp's dividend payout ratio (DPR) is currently 45.95%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NBTB shares. Hovde Group initiated coverage on shares of NBT Bancorp in a research note on Friday, March 21st. They issued a "market perform" rating and a $50.00 price objective for the company. StockNews.com downgraded 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 report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $54.50.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director Heidi M. Hoeller bought 678 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average cost of $48.45 per share, with a total value of $32,849.10. Following the acquisition, the director now owns 6,437 shares of the company's stock, valued at $311,872.65. The trade was a 11.77 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sarah A. Halliday sold 5,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction of $242,250.00. Following the completion of the transaction, the executive vice president now directly 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. 3.32% of the stock is currently owned by 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.