Hsbc Holdings PLC Takes $11.43 Million Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Hsbc Holdings PLC purchased a new stake in NBT Bancorp Inc. (NASDAQ:NBTBFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 269,565 shares of the bank’s stock, valued at approximately $11,434,000. Hsbc Holdings PLC owned about 0.57% of NBT Bancorp at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in NBT Bancorp in the 4th quarter worth about $12,547,000. Beacon Pointe Advisors LLC increased its position in shares of NBT Bancorp by 2.2% during the fourth quarter. Beacon Pointe Advisors LLC now owns 18,103 shares of the bank’s stock worth $759,000 after acquiring an additional 394 shares during the period. Fagan Associates Inc. purchased a new position in shares of NBT Bancorp during the fourth quarter worth approximately $254,000. Dimensional Fund Advisors LP increased its position in shares of NBT Bancorp by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,173,297 shares of the bank’s stock worth $91,086,000 after acquiring an additional 17,039 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in NBT Bancorp by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 530,209 shares of the bank’s stock valued at $22,221,000 after buying an additional 25,528 shares during the period. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Trading Up 1.3 %

NASDAQ:NBTB opened at $37.18 on Monday. NBT Bancorp Inc. has a 12 month low of $30.31 and a 12 month high of $43.77. The firm has a fifty day simple moving average of $36.15 and a 200-day simple moving average of $36.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.75 billion, a P/E ratio of 14.36 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTBGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. The business had revenue of $192.33 million during the quarter, compared to the consensus estimate of $135.01 million. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, equities research analysts anticipate that NBT Bancorp Inc. will post 2.84 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.28 annualized dividend and a dividend yield of 3.44%. NBT Bancorp’s dividend payout ratio (DPR) is presently 49.42%.

Analyst Ratings Changes

NBTB has been the topic of several research reports. Keefe, Bruyette & Woods cut their price objective 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, April 24th. Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Thursday, March 21st. Finally, Stephens restated an “overweight” rating and issued a $42.00 target price on shares of NBT Bancorp in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.20.

View Our Latest Report on NBTB

NBT Bancorp Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for NBT Bancorp (NASDAQ:NBTB)

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