Stonebridge Financial Group LLC Makes New $551,000 Investment in NBT Bancorp Inc. (NASDAQ:NBTB)

Stonebridge Financial Group LLC bought a new stake in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,529 shares of the bank's stock, valued at approximately $551,000.

Several other institutional investors and hedge funds have also modified their holdings of NBTB. AQR Capital Management LLC acquired a new stake in shares of NBT Bancorp in the 2nd quarter valued at $214,000. GAMMA Investing LLC increased its position in NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank's stock worth $34,000 after purchasing an additional 252 shares during the period. Inspire Investing LLC raised its holdings in NBT Bancorp by 3.7% during the 3rd quarter. Inspire Investing LLC now owns 9,378 shares of the bank's stock worth $415,000 after purchasing an additional 331 shares during the last quarter. Raymond James & Associates lifted its position in NBT Bancorp by 3.9% during the 3rd quarter. Raymond James & Associates now owns 95,062 shares of the bank's stock valued at $4,205,000 after purchasing an additional 3,540 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of NBT Bancorp by 3.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 144,642 shares of the bank's stock valued at $6,398,000 after purchasing an additional 5,235 shares during the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on NBTB. StockNews.com downgraded shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on NBT Bancorp from $50.00 to $55.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. DA Davidson began coverage on NBT Bancorp in a research note on Thursday, December 12th. They set a "neutral" rating and a $60.00 price objective for the company. Finally, 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 report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, NBT Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $51.75.

NBT Bancorp Trading Up 0.0 %

Shares of NBTB stock traded up $0.01 on Friday, hitting $48.05. The stock had a trading volume of 94,193 shares, compared to its average volume of 205,258. The firm has a market cap of $2.27 billion, a P/E ratio of 16.23 and a beta of 0.52. NBT Bancorp Inc. has a twelve month low of $32.79 and a twelve month 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 company has a fifty day moving average price of $48.31 and a two-hundred day moving average price of $47.10.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share (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 earned $0.72 earnings per share. As a group, analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, March 3rd. NBT Bancorp's dividend payout ratio is 45.95%.

Insider Activity

In other news, EVP Sarah A. Halliday sold 5,000 shares of the firm's 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 sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jack H. Webb sold 10,000 shares of NBT Bancorp stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $50.06, for a total value of $500,600.00. Following the sale, the director now directly owns 45,018 shares of the company's stock, valued at $2,253,601.08. This represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,694 shares of company stock worth $778,535 over the last ninety days. Insiders own 3.32% of the company's stock.

NBT Bancorp 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.