Y Intercept Hong Kong Ltd Takes Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Y Intercept Hong Kong Ltd bought a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 28,887 shares of the bank's stock, valued at approximately $1,278,000. Y Intercept Hong Kong Ltd owned 0.06% of NBT Bancorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NBTB. Louisiana State Employees Retirement System lifted its holdings in NBT Bancorp by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank's stock worth $915,000 after acquiring an additional 400 shares in the last quarter. Ceredex Value Advisors LLC grew its position in shares of NBT Bancorp by 2.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank's stock valued at $8,473,000 after purchasing an additional 5,500 shares during the period. Bank of New York Mellon Corp increased its stake in NBT Bancorp by 36.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank's stock worth $24,307,000 after purchasing an additional 169,180 shares in the last quarter. IFG Advisory LLC acquired a new stake in NBT Bancorp during the 2nd quarter worth approximately $502,000. Finally, Union Savings Bank lifted its stake in NBT Bancorp by 45.1% in the second quarter. Union Savings Bank now owns 7,026 shares of the bank's stock valued at $271,000 after buying an additional 2,183 shares in the last quarter. 58.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NBTB shares. StockNews.com upgraded shares of NBT Bancorp from a "sell" rating to a "hold" rating in a report on Tuesday. DA Davidson assumed coverage on NBT Bancorp in a research note on Thursday. They issued a "neutral" rating and a $60.00 price target on the stock. Stephens reaffirmed an "equal weight" rating and set a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. Finally, Keefe, Bruyette & Woods lifted their target price 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. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, NBT Bancorp currently has a consensus rating of "Hold" and a consensus price target of $48.17.

NBT Bancorp Stock Up 0.2 %

Shares of NASDAQ NBTB traded up $0.09 during mid-day trading on Thursday, hitting $51.68. The company had a trading volume of 228,376 shares, compared to its average volume of 203,467. 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 simple moving average of $47.32 and a two-hundred day simple moving average of $44.30. The company has a market capitalization of $2.44 billion, a PE ratio of 18.20 and a beta of 0.52. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $52.31.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating 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 firm had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. During the same period last year, the company earned $0.84 earnings per share. On average, equities analysts expect that NBT Bancorp Inc. will post 2.94 EPS for the current year.

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.63%. NBT Bancorp's payout ratio is 47.89%.

Insiders Place Their Bets

In related news, Director V Daniel Robinson II sold 50,000 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.58, for a total transaction of $2,229,000.00. Following the transaction, the director now directly owns 417,558 shares of the company's stock, valued at approximately $18,614,735.64. The trade was a 10.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Amy Wiles sold 556 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $25,020.00. Following the completion of the sale, the executive vice president now owns 28,909 shares in the company, valued at approximately $1,300,905. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 161,556 shares of company stock valued at $7,609,920. 3.32% of the stock is currently owned by corporate insiders.

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.