Envestnet Asset Management Inc. Sells 1,660 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Envestnet Asset Management Inc. trimmed its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 11.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,204 shares of the bank’s stock after selling 1,660 shares during the period. Envestnet Asset Management Inc.’s holdings in NBT Bancorp were worth $631,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in NBT Bancorp by 55.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock valued at $9,946,000 after acquiring an additional 80,232 shares during the period. Bank of New York Mellon Corp raised its stake in NBT Bancorp by 12.5% during the 4th quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock valued at $32,632,000 after purchasing an additional 75,693 shares during the period. Barclays PLC lifted its holdings in NBT Bancorp by 41.8% in the 3rd quarter. Barclays PLC now owns 91,880 shares of the bank’s stock worth $4,064,000 after purchasing an additional 27,085 shares in the last quarter. Lisanti Capital Growth LLC boosted its stake in NBT Bancorp by 53.0% in the 4th quarter. Lisanti Capital Growth LLC now owns 66,035 shares of the bank’s stock worth $3,154,000 after purchasing an additional 22,865 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of NBT Bancorp by 68.0% during the third quarter. JPMorgan Chase & Co. now owns 92,582 shares of the bank’s stock valued at $4,095,000 after buying an additional 37,469 shares during the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Insider Activity

In other news, Director Heidi M. Hoeller acquired 678 shares of NBT Bancorp stock in a transaction that occurred on 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 transaction, the director now directly owns 6,437 shares of the company’s stock, valued at $311,872.65. This trade represents a 11.77 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Sarah A. Halliday sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $48.45, for a total value 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 position. The disclosure for this sale can be found here. Insiders own 3.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NBTB. Hovde Group started coverage on shares of NBT Bancorp in a research report on Friday, March 21st. They set a “market perform” rating and a $50.00 target price for the company. DA Davidson reduced their target price on NBT Bancorp from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Stephens raised NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research note on Wednesday, January 29th. Finally, StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NBT Bancorp has an average rating of “Hold” and a consensus target price of $52.75.

NBT Bancorp Stock Up 2.1 %

Shares of NASDAQ:NBTB opened at $43.41 on Friday. The company has a 50-day moving average price of $42.35 and a 200 day moving average price of $46.09. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 12 month low of $34.47 and a 12 month high of $52.44. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 14.67 and a beta of 0.58.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.04. The firm had revenue of $155.31 million for the quarter, compared to the consensus estimate of $151.00 million. NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same quarter in the previous year, the company posted $0.68 EPS. As a group, equities research analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

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.