Raymond James Financial Inc. Makes New $23.65 Million Investment in NBT Bancorp Inc. (NASDAQ:NBTB)

Raymond James Financial Inc. bought a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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.

Other institutional investors and hedge funds also recently made changes to their positions 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 buying an additional 517 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in shares of NBT Bancorp in the 4th quarter worth $87,000. US Bancorp DE raised its holdings in shares of NBT Bancorp by 42.0% in the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank's stock valued at $88,000 after purchasing an additional 543 shares during the last quarter. Crews Bank & Trust bought a new position in shares of NBT Bancorp during the fourth quarter valued at about $98,000. Finally, KBC Group NV boosted its holdings in NBT Bancorp by 47.5% during the fourth quarter. KBC Group NV now owns 2,152 shares of the bank's stock worth $103,000 after purchasing an additional 693 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company's stock.

NBT Bancorp Stock Performance

Shares of NBTB stock traded up $0.03 during trading on Thursday, reaching $41.90. 30,347 shares of the company's stock traded hands, compared to its average volume of 217,514. The company has a market capitalization of $1.98 billion, a P/E ratio of 14.14 and a beta of 0.53. The firm's 50-day moving average is $43.03 and its 200 day moving average is $46.17. NBT Bancorp Inc. has a 1 year low of $34.47 and a 1 year high of $52.44. 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 (NASDAQ:NBTB - Get Free Report) last issued its earnings results 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 company posted $0.72 earnings per share. Equities research analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.36 annualized dividend and a dividend yield of 3.25%. NBT Bancorp's payout ratio is currently 45.95%.

Insider Buying and Selling

In other NBT Bancorp news, Director Heidi M. Hoeller purchased 678 shares of the company's stock in a transaction dated 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 transaction, the director now owns 6,437 shares in the company, valued at $311,872.65. The trade was a 11.77 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sarah A. Halliday sold 5,000 shares of the company'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 transaction, the executive vice president now owns 25,564 shares in the company, valued at approximately $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. 3.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NBTB shares. StockNews.com cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, January 16th. Stephens upgraded 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, Hovde Group started coverage on shares of NBT Bancorp in a research note on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NBT Bancorp currently has a consensus rating of "Hold" and an average price target of $54.50.

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.