Russell Investments Group Ltd. Sells 25,378 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Russell Investments Group Ltd. lessened its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 15.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,069 shares of the bank's stock after selling 25,378 shares during the period. Russell Investments Group Ltd. owned approximately 0.29% of NBT Bancorp worth $6,451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of NBT Bancorp during the fourth quarter worth about $23,651,000. JPMorgan Chase & Co. lifted its position in shares of NBT Bancorp by 307.0% in the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank's stock worth $17,998,000 after purchasing an additional 284,267 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in NBT Bancorp during the fourth quarter worth $12,007,000. Norges Bank bought a new position in NBT Bancorp in the fourth quarter valued at $6,736,000. Finally, Great Lakes Advisors LLC acquired a new stake in NBT Bancorp in the 4th quarter valued at $4,294,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NBTB has been the topic of a number of recent research reports. Hovde Group began coverage on NBT Bancorp in a research report on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price on the stock. Stephens raised NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price target on the stock in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $54.50.

NBT Bancorp Stock Performance

NASDAQ:NBTB traded up $0.18 during mid-day trading on Friday, reaching $39.76. 297,030 shares of the company's stock were exchanged, compared to its average volume of 217,003. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $1.88 billion, a PE ratio of 13.43 and a beta of 0.53. NBT Bancorp Inc. has a one year low of $33.11 and a one year high of $52.44. The business's fifty day simple moving average is $43.45 and its two-hundred day simple moving average is $46.21.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The bank reported $0.77 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 period in the prior year, the firm posted $0.72 earnings per share. Analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Monday, March 3rd. NBT Bancorp's payout ratio is presently 45.95%.

Insider Transactions at NBT Bancorp

In other news, 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 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 ownership of the stock. The disclosure for this purchase can be found here. 3.32% of the stock is currently owned by insiders.

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.