Raymond James Financial Inc. Takes Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Raymond James Financial Inc. bought a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 495,208 shares of the bank's stock, valued at approximately $23,651,000. Raymond James Financial Inc. owned approximately 1.05% of NBT Bancorp at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NBTB. US Bancorp DE purchased a new position in shares of NBT Bancorp in the 3rd quarter valued at approximately $57,000. Versor Investments LP purchased a new position in shares of NBT Bancorp in the third quarter worth $349,000. Quest Partners LLC acquired a new stake in shares of NBT Bancorp during the third quarter worth $57,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of NBT Bancorp during the third quarter valued at $342,000. Finally, Intech Investment Management LLC acquired a new position in shares of NBT Bancorp in the 3rd quarter valued at $365,000. Institutional investors and hedge funds own 58.46% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NBTB. DA Davidson started coverage on NBT Bancorp in a research note on Thursday, December 12th. They issued a "neutral" rating and a $60.00 price objective for the company. StockNews.com cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research note 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 for the company in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $51.75.

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NBT Bancorp Price Performance

Shares of NASDAQ:NBTB traded up $0.12 during trading on Wednesday, reaching $43.50. 145,241 shares of the company's stock traded hands, compared to its average volume of 202,764. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a fifty-two week low of $32.79 and a fifty-two week high of $52.44. The company has a 50-day simple moving average of $46.71 and a 200-day simple moving average of $46.97. The firm has a market cap of $2.06 billion, a PE ratio of 14.70 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 EPS 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 last year, the business earned $0.72 earnings per share. As a group, analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The business also recently disclosed 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. This represents a $1.36 annualized dividend and a yield of 3.13%. The ex-dividend date was Monday, March 3rd. NBT Bancorp's payout ratio is 45.95%.

Insider Activity

In related news, EVP Sarah A. Halliday sold 5,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $48.45, for a total transaction of $242,250.00. Following the completion of the sale, the executive vice president now directly owns 25,564 shares in the company, valued at approximately $1,238,575.80. The trade was a 16.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Heidi M. Hoeller acquired 678 shares of the firm's stock in a transaction on Friday, February 7th. The stock was purchased at an average price of $48.45 per share, for a total transaction of $32,849.10. Following the acquisition, the director now directly owns 6,437 shares in the company, valued at $311,872.65. This represents a 11.77 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.32% of the company's stock.

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.