Bank of Montreal Can Boosts Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Bank of Montreal Can grew its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,278 shares of the bank’s stock after acquiring an additional 461 shares during the period. Bank of Montreal Can’s holdings in NBT Bancorp were worth $348,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in NBT Bancorp by 55.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock valued at $9,946,000 after purchasing an additional 80,232 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in NBT Bancorp by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock worth $32,632,000 after acquiring an additional 75,693 shares during the period. Barclays PLC grew its holdings in 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 during the period. Lisanti Capital Growth LLC raised its position in NBT Bancorp by 53.0% during the fourth quarter. Lisanti Capital Growth LLC now owns 66,035 shares of the bank’s stock valued at $3,154,000 after acquiring an additional 22,865 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in NBT Bancorp by 68.0% in the third quarter. JPMorgan Chase & Co. now owns 92,582 shares of the bank’s stock valued at $4,095,000 after acquiring an additional 37,469 shares during the period. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Up 1.3 %

Shares of NASDAQ NBTB opened at $41.87 on Thursday. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 14.15 and a beta of 0.53. The company’s 50-day simple moving average is $43.03 and its 200-day simple moving average is $46.17. 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 Inc. has a 52-week low of $34.47 and a 52-week high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, January 27th. The bank reported $0.77 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 in the previous year, the business earned $0.72 EPS. Equities analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 3.25%. NBT Bancorp’s payout ratio is currently 45.95%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other NBT Bancorp news, Director Heidi M. Hoeller purchased 678 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were purchased at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the completion of the transaction, the director now owns 6,437 shares of the company’s stock, valued at $311,872.65. The trade was a 11.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sarah A. Halliday sold 5,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction of $242,250.00. Following the completion of the sale, the executive vice president now owns 25,564 shares of the company’s stock, valued at approximately $1,238,575.80. The trade was a 16.36 % decrease in their position. The disclosure for this sale can be found here. 3.03% of the stock is currently owned by corporate insiders.

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.