NBT Bancorp Inc. (NASDAQ:NBTB) Stock Holdings Decreased by State Street Corp

State Street Corp trimmed its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,053,558 shares of the bank's stock after selling 28,041 shares during the period. State Street Corp owned 4.35% of NBT Bancorp worth $90,829,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC purchased a new stake in shares of NBT Bancorp during the third quarter worth about $235,000. Centiva Capital LP purchased a new stake in NBT Bancorp during the 3rd quarter worth approximately $235,000. Paloma Partners Management Co acquired a new position in shares of NBT Bancorp in the 3rd quarter valued at approximately $411,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of NBT Bancorp during the 3rd quarter valued at approximately $103,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of NBT Bancorp by 1.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,670 shares of the bank's stock worth $5,558,000 after buying an additional 1,681 shares in the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on NBTB shares. DA Davidson began coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They set a "neutral" rating and a $60.00 price objective on the stock. Stephens reiterated an "equal weight" rating and issued a $49.00 price target on shares of NBT Bancorp in a research note on Tuesday, September 10th. StockNews.com raised NBT Bancorp from a "sell" rating to a "hold" rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods upped their price target on NBT Bancorp from $50.00 to $55.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.17.

NBT Bancorp Stock Performance

NBTB traded down $1.46 during trading on Tuesday, reaching $50.87. 436,127 shares of the company were exchanged, compared to its average volume of 205,611. NBT Bancorp Inc. has a 52 week low of $32.79 and a 52 week 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. The firm has a 50 day moving average of $47.85 and a 200 day moving average of $44.68. The stock has a market cap of $2.40 billion, a P/E ratio of 18.24 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $202.00 million during the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same quarter in the prior year, the firm earned $0.84 earnings per share. On average, sell-side analysts forecast that NBT Bancorp Inc. will post 2.94 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.36 annualized dividend and a dividend yield of 2.67%. NBT Bancorp's dividend payout ratio is presently 47.89%.

Insider Buying and Selling

In related news, EVP Amy Wiles sold 500 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $51.31, for a total value of $25,655.00. Following the sale, the executive vice president now directly owns 27,409 shares in the company, valued at $1,406,355.79. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John H. Watt, Jr. sold 20,000 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the completion of the transaction, the director now owns 143,101 shares in the company, valued at approximately $6,503,940.45. This trade represents a 12.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,694 shares of company stock valued at $4,048,185 in the last three months. 3.32% of the stock is currently owned by corporate 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.