US Bancorp DE Makes New Investment in NBT Bancorp Inc. (NASDAQ:NBTB)

US Bancorp DE acquired a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,293 shares of the bank’s stock, valued at approximately $57,000.

Several other institutional investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of NBT Bancorp by 3.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 144,642 shares of the bank’s stock worth $6,398,000 after purchasing an additional 5,235 shares during the last quarter. Raymond James & Associates increased its stake in NBT Bancorp by 3.9% during the 3rd quarter. Raymond James & Associates now owns 95,062 shares of the bank’s stock worth $4,205,000 after buying an additional 3,540 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of NBT Bancorp by 3.7% during the third quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock valued at $415,000 after acquiring an additional 331 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after acquiring an additional 252 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its stake in shares of NBT Bancorp by 14.9% in the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after acquiring an additional 107,404 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NBTB stock opened at $49.26 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $2.32 billion, a P/E ratio of 17.35 and a beta of 0.49. The firm’s 50 day moving average price is $45.35 and its 200-day moving average price is $42.73. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $51.93.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The company had revenue of $202.00 million for the quarter, compared to analysts’ expectations of $144.70 million. During the same period in the prior year, the firm earned $0.84 earnings per share. As a group, equities research analysts predict that NBT Bancorp Inc. will post 2.91 EPS for the current year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s payout ratio is currently 47.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NBTB shares. Stephens reiterated an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Raymond James cut NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.60.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $50.10, for a total value of $50,100.00. Following the transaction, the executive vice president now directly owns 27,909 shares in the company, valued at $1,398,240.90. This represents a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy E. Delaney sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the sale, the director now owns 38,853 shares of the company’s stock, valued at $1,999,763.91. This represents a 50.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 162,556 shares of company stock worth $7,545,690. Company insiders own 3.32% of the company’s stock.

NBT Bancorp 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.