Geode Capital Management LLC Decreases Stake in NBT Bancorp Inc. (NASDAQ:NBTB)

Geode Capital Management LLC decreased its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,109,383 shares of the bank’s stock after selling 9,027 shares during the quarter. Geode Capital Management LLC owned about 2.35% of NBT Bancorp worth $52,995,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of NBT Bancorp by 66.5% in the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock valued at $62,000 after purchasing an additional 517 shares during the period. Rialto Wealth Management LLC purchased a new position in NBT Bancorp in the fourth quarter valued at about $87,000. US Bancorp DE lifted its position in shares of NBT Bancorp by 42.0% during the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock valued at $88,000 after acquiring an additional 543 shares during the period. Crews Bank & Trust purchased a new stake in shares of NBT Bancorp during the 4th quarter worth approximately $98,000. Finally, KBC Group NV boosted its stake in shares of NBT Bancorp by 47.5% during the 4th quarter. KBC Group NV now owns 2,152 shares of the bank’s stock worth $103,000 after acquiring an additional 693 shares in the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NBTB. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Hovde Group began coverage on NBT Bancorp in a research note on Friday, March 21st. They set a “market perform” rating and a $50.00 price target for the company. Finally, Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.50.

Insider Buying and Selling

In other NBT Bancorp news, EVP Sarah A. Halliday sold 5,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction of $242,250.00. Following the transaction, the executive vice president now owns 25,564 shares of the company’s stock, valued at $1,238,575.80. This trade represents a 16.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Heidi M. Hoeller acquired 678 shares of the stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $48.45 per share, with a total value of $32,849.10. Following the completion of the purchase, the director now directly owns 6,437 shares in the company, valued at approximately $311,872.65. This trade represents a 11.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.32% of the company’s stock.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $38.62 on Monday. NBT Bancorp Inc. has a fifty-two week low of $32.93 and a fifty-two week high of $52.44. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 13.05 and a beta of 0.53. The business has a fifty day moving average of $44.37 and a 200-day moving average of $46.39. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same period last year, the firm posted $0.72 EPS. As a group, analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.34 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.36 annualized dividend and a dividend yield of 3.52%. NBT Bancorp’s payout ratio is currently 45.95%.

NBT Bancorp Company 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.