Tower Research Capital LLC TRC reduced its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB – Get Rating) by 85.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,617 shares of the bank’s stock after selling 28,128 shares during the quarter. Tower Research Capital LLC TRC’s holdings in NBT Bancorp were worth $175,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in NBTB. Lazard Asset Management LLC acquired a new position in shares of NBT Bancorp during the first quarter valued at about $27,000. Captrust Financial Advisors lifted its position in shares of NBT Bancorp by 198.9% during the first quarter. Captrust Financial Advisors now owns 2,173 shares of the bank’s stock valued at $79,000 after purchasing an additional 1,446 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of NBT Bancorp during the first quarter valued at about $189,000. Graham Capital Management L.P. bought a new position in shares of NBT Bancorp during the first quarter valued at about $219,000. Finally, Atria Wealth Solutions Inc. bought a new position in shares of NBT Bancorp during the first quarter valued at about $263,000. 55.87% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Director Heidi M. Hoeller acquired 750 shares of the stock in a transaction on Monday, December 12th. The shares were acquired at an average price of $42.48 per share, with a total value of $31,860.00. Following the completion of the transaction, the director now owns 3,441 shares in the company, valued at approximately $146,173.68. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.55% of the company’s stock.
NBT Bancorp Stock Performance
NBT Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, February 28th. NBT Bancorp’s dividend payout ratio is 34.09%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Raymond James assumed coverage on shares of NBT Bancorp in a research report on Wednesday, December 21st. They set a “strong-buy” rating and a $49.00 price target on the stock. StockNews.com lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 2nd. Finally, Stephens dropped their price target on shares of NBT Bancorp from $47.00 to $42.00 in a research report on Thursday, January 26th.
NBT Bancorp Profile
NBT Bancorp, Inc is a holding company, which engages in the provision of financial solutions. It offers commercial banking, retail banking, and wealth management, as well as trust and investment services. The company was founded in 1986 and is headquartered in Norwich, NY.
- Get a free copy of the StockNews.com research report on NBT Bancorp (NBTB)
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