Wealth Enhancement Advisory Services LLC Purchases 80,232 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Wealth Enhancement Advisory Services LLC grew its stake in NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 55.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,874 shares of the bank's stock after buying an additional 80,232 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.48% of NBT Bancorp worth $9,946,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Asset Management Inc. lifted its stake in NBT Bancorp by 76.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank's stock valued at $16,759,000 after purchasing an additional 163,952 shares during the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of NBT Bancorp by 14.9% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank's stock worth $31,978,000 after acquiring an additional 107,404 shares during the period. Ceredex Value Advisors LLC increased its holdings in shares of NBT Bancorp by 40.9% during the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank's stock worth $13,680,000 after acquiring an additional 89,800 shares during the last quarter. Franklin Resources Inc. raised its stake in NBT Bancorp by 472.1% in the 3rd quarter. Franklin Resources Inc. now owns 74,468 shares of the bank's stock valued at $3,379,000 after acquiring an additional 61,451 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in NBT Bancorp during the 2nd quarter valued at $1,974,000. Institutional investors and hedge funds own 58.46% of the company's stock.

NBT Bancorp Price Performance

Shares of NBTB stock traded up $0.04 during trading on Monday, hitting $45.24. The company had a trading volume of 24,487 shares, compared to its average volume of 157,311. The stock's 50-day moving average price is $49.10 and its 200 day moving average price is $46.28. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $52.44. 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 $2.13 billion, a P/E ratio of 15.93 and a beta of 0.53.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The company had revenue of $202.00 million for the quarter, compared to analysts' expectations of $144.70 million. During the same quarter last year, the business earned $0.84 earnings per share. Equities analysts expect that NBT Bancorp Inc. will post 2.94 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Monday, December 2nd. NBT Bancorp's dividend payout ratio (DPR) is presently 47.89%.

Analyst Ratings Changes

NBTB has been the topic of several research analyst reports. Keefe, Bruyette & Woods increased their price objective 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. DA Davidson initiated coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a "neutral" rating and a $60.00 price objective for the company. Finally, StockNews.com downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, NBT Bancorp presently has an average rating of "Hold" and an average target price of $48.80.

Insider Buying and Selling

In related news, EVP Amy Wiles sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $50.10, for a total value of $50,100.00. Following the completion of the transaction, the executive vice president now owns 27,909 shares of the company's stock, valued at $1,398,240.90. This represents a 3.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy E. Delaney sold 40,000 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the sale, the director now directly owns 38,853 shares in the company, valued at approximately $1,999,763.91. The trade was a 50.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,694 shares of company stock worth $4,048,185. Corporate 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.