Principal Financial Group Inc. Sells 10,163 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Principal Financial Group Inc. reduced its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 222,304 shares of the bank’s stock after selling 10,163 shares during the quarter. Principal Financial Group Inc. owned 0.47% of NBT Bancorp worth $9,833,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of NBTB. Eagle Asset Management Inc. grew its position in shares of NBT Bancorp by 76.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after purchasing an additional 163,952 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of NBT Bancorp in the third quarter valued at approximately $439,000. Barclays PLC increased its position in shares of NBT Bancorp by 41.8% during the third quarter. Barclays PLC now owns 91,880 shares of the bank’s stock worth $4,064,000 after acquiring an additional 27,085 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of NBT Bancorp during the second quarter worth $1,974,000. Finally, Geode Capital Management LLC lifted its position in NBT Bancorp by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after acquiring an additional 10,628 shares in the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

Insider Buying and Selling

In other NBT Bancorp news, EVP Amy Wiles sold 500 shares of NBT Bancorp stock in a transaction on Friday, December 13th. The shares were sold at an average price of $51.31, for a total transaction of $25,655.00. Following the completion of the transaction, the executive vice president now directly owns 27,409 shares of the company’s stock, valued at $1,406,355.79. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy E. Delaney sold 40,000 shares of the firm’s stock in a transaction dated 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 approximately $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 90 days, insiders sold 81,694 shares of company stock worth $4,048,185. Company insiders own 3.32% of the company’s stock.

NBT Bancorp Stock Down 1.0 %

NBTB stock opened at $47.93 on Tuesday. NBT Bancorp Inc. has a twelve month low of $32.79 and a twelve month high of $52.44. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 16.88 and a beta of 0.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $48.67 and a two-hundred day moving average price of $45.60.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The business had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. During the same period in the previous year, the company earned $0.84 earnings per share. Analysts anticipate that NBT Bancorp Inc. will post 2.94 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.36 annualized dividend and a yield of 2.84%. NBT Bancorp’s dividend payout ratio (DPR) is currently 47.89%.

Wall Street Analysts Forecast Growth

NBTB has been the topic of several recent research reports. DA Davidson initiated coverage on NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target on the stock. Stephens reissued an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. Keefe, Bruyette & Woods upped their price target on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, NBT Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.17.

About NBT Bancorp

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.