NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 45.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,585 shares of the bank’s stock after selling 7,031 shares during the quarter. BNP Paribas Financial Markets’ holdings in NBT Bancorp were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Barclays PLC lifted its position 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 buying an additional 27,085 shares during the period. KBC Group NV grew its position in shares of NBT Bancorp by 47.5% during the fourth quarter. KBC Group NV now owns 2,152 shares of the bank’s stock worth $103,000 after buying an additional 693 shares in the last quarter. Crews Bank & Trust acquired a new stake in shares of NBT Bancorp in the 4th quarter valued at about $98,000. Stonebridge Financial Group LLC acquired a new position in shares of NBT Bancorp in the 4th quarter worth approximately $551,000. Finally, Legato Capital Management LLC raised its holdings in shares of NBT Bancorp by 102.7% during the fourth quarter. Legato Capital Management LLC now owns 14,835 shares of the bank’s stock worth $709,000 after purchasing an additional 7,515 shares during the period. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Stock Down 0.6%

NBTB stock opened at $41.56 on Monday. The company has a fifty day simple moving average of $41.96 and a 200 day simple moving average of $45.89. 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 1 year low of $34.47 and a 1 year high of $52.44. The firm has a market cap of $1.96 billion, a PE ratio of 14.04 and a beta of 0.58.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.04. NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. The business had revenue of $155.31 million during the quarter, compared to analysts’ expectations of $151.00 million. During the same quarter in the previous year, the firm earned $0.68 EPS. Sell-side analysts anticipate 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 will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.34 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.27%. NBT Bancorp’s dividend payout ratio is currently 45.03%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NBTB. DA Davidson lowered their price objective on NBT Bancorp from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Wall Street Zen cut NBT Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a research report on Wednesday, January 29th. Finally, 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 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $52.75.

Insider Buying and Selling at NBT Bancorp

In related news, Director Heidi M. Hoeller purchased 2,588 shares of the stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $42.88 per share, for a total transaction of $110,973.44. Following the completion of the transaction, the director now directly owns 11,578 shares of the company’s stock, valued at approximately $496,464.64. The trade was a 28.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.03% of the company’s stock.

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.