Norges Bank Takes Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Norges Bank bought a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTBFree Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 299,374 shares of the bank’s stock, valued at approximately $12,547,000. Norges Bank owned 0.64% of NBT Bancorp as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Blue Trust Inc. lifted its position in shares of NBT Bancorp by 69.9% in the fourth quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock worth $28,000 after purchasing an additional 276 shares in the last quarter. Beacon Pointe Advisors LLC increased its holdings in NBT Bancorp by 2.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 18,103 shares of the bank’s stock worth $759,000 after buying an additional 394 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new position in NBT Bancorp during the third quarter valued at approximately $27,000. New York State Common Retirement Fund lifted its stake in NBT Bancorp by 5.3% in the fourth quarter. New York State Common Retirement Fund now owns 18,300 shares of the bank’s stock valued at $767,000 after acquiring an additional 926 shares during the last quarter. Finally, Raymond James & Associates grew its position in NBT Bancorp by 1.5% in the fourth quarter. Raymond James & Associates now owns 73,518 shares of the bank’s stock worth $3,081,000 after acquiring an additional 1,058 shares in the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Stock Down 1.3 %

NBTB opened at $35.63 on Wednesday. The business has a 50 day moving average of $36.15 and a 200-day moving average of $36.87. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 13.76 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 1-year low of $30.31 and a 1-year high of $43.77.

NBT Bancorp (NASDAQ:NBTBGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.68 earnings per share (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 company had revenue of $192.33 million for the quarter, compared to analyst estimates of $135.01 million. During the same period last year, the business posted $0.88 EPS. As a group, sell-side analysts anticipate that NBT Bancorp Inc. will post 2.84 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.32 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.59%. NBT Bancorp’s dividend payout ratio is currently 49.42%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. 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 report on Thursday, March 21st. Stephens reaffirmed an “overweight” rating and set a $42.00 target price on shares of NBT Bancorp in a research report on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.20.

View Our Latest Stock Analysis on NBTB

About NBT Bancorp

(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.

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

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