NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTBFree Report) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,998 shares of the bank’s stock after selling 2,134 shares during the period. Franklin Resources Inc.’s holdings in NBT Bancorp were worth $880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of NBT Bancorp by 8.8% during the third quarter. Vanguard Group Inc. now owns 5,515,875 shares of the bank’s stock worth $174,798,000 after purchasing an additional 445,814 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 purchasing an additional 17,039 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of NBT Bancorp by 29.9% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 752,841 shares of the bank’s stock worth $23,858,000 after purchasing an additional 173,218 shares in the last quarter. Northern Trust Corp lifted its position in shares of NBT Bancorp by 5.7% during the third quarter. Northern Trust Corp now owns 741,141 shares of the bank’s stock worth $23,487,000 after purchasing an additional 39,912 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of NBT Bancorp by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 530,209 shares of the bank’s stock worth $22,221,000 after purchasing an additional 25,528 shares in the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Stephens reaffirmed an “overweight” rating and issued a $42.00 price target on shares of NBT Bancorp in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods cut their price target 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. Finally, Janney Montgomery Scott raised 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.20.

Read Our Latest Stock Report on NBT Bancorp

NBT Bancorp Stock Up 0.5 %

NBTB stock opened at $36.00 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. NBT Bancorp Inc. has a 1-year low of $30.31 and a 1-year high of $43.77. The firm has a fifty day moving average price of $36.12 and a two-hundred day moving average price of $36.85. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 13.90 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTBGet Free Report) last released its earnings results on Tuesday, April 23rd. The bank reported $0.68 earnings per share for the quarter, beating 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 firm had revenue of $192.33 million during the quarter, compared to analyst estimates of $135.01 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Research analysts predict that NBT Bancorp Inc. will post 2.84 EPS for the current year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid 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 yield of 3.56%. NBT Bancorp’s payout ratio is 49.42%.

NBT Bancorp 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.

See Also

Want to see what other hedge funds are holding NBTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NBT Bancorp Inc. (NASDAQ:NBTBFree Report).

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

Receive News & Ratings for NBT Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NBT Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.