Cwm LLC Sells 2,702 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Cwm LLC cut its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 8.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,085 shares of the bank’s stock after selling 2,702 shares during the period. Cwm LLC’s holdings in NBT Bancorp were worth $1,177,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NBTB. Vanguard Group Inc. lifted its position in NBT Bancorp by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,515,875 shares of the bank’s stock worth $174,798,000 after buying an additional 445,814 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of NBT Bancorp by 29.9% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 752,841 shares of the bank’s stock valued at $23,858,000 after purchasing an additional 173,218 shares during the period. NBT Bank N A NY raised its holdings in shares of NBT Bancorp by 49.2% in the 3rd quarter. NBT Bank N A NY now owns 281,169 shares of the bank’s stock valued at $8,910,000 after purchasing an additional 92,718 shares during the period. Roubaix Capital LLC bought a new stake in shares of NBT Bancorp in the 3rd quarter valued at about $2,353,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of NBT Bancorp by 11.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 504,681 shares of the bank’s stock valued at $15,993,000 after purchasing an additional 51,671 shares during the period. 58.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other NBT Bancorp news, Director Lowell A. Seifter sold 4,770 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $37.50, for a total transaction of $178,875.00. Following the transaction, the director now owns 44,362 shares in the company, valued at approximately $1,663,575. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.32% of the company’s stock.

Analyst Ratings Changes

NBTB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of NBT Bancorp in a report on Tuesday, April 23rd. Piper Sandler dropped their target price on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Raymond James upped their price target on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Finally, Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.20.

NBT Bancorp Stock Up 0.6 %

Shares of NBTB opened at $35.97 on Friday. NBT Bancorp Inc. has a 52 week low of $27.52 and a 52 week high of $43.77. The firm has a market cap of $1.70 billion, a P/E ratio of 13.89 and a beta of 0.51. The firm’s 50-day simple moving average is $34.81 and its 200 day simple moving average is $36.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. The firm had revenue of $192.33 million for the quarter, compared to analyst estimates of $135.01 million. During the same quarter in the prior year, the business posted $0.88 EPS. On average, analysts forecast that NBT Bancorp Inc. will post 2.82 earnings per share for the current year.

NBT Bancorp Company 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.