7,520 Shares in NBT Bancorp Inc. (NASDAQ:NBTB) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new position in NBT Bancorp Inc. (NASDAQ:NBTB) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,520 shares of the bank’s stock, valued at approximately $323,000.

Several other hedge funds have also recently bought and sold shares of the business. KBC Group NV raised its stake in shares of NBT Bancorp by 28.4% during the 1st quarter. KBC Group NV now owns 2,763 shares of the bank’s stock worth $119,000 after purchasing an additional 611 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of NBT Bancorp by 8.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 26,528 shares of the bank’s stock worth $1,138,000 after purchasing an additional 2,147 shares in the last quarter. NBT Bank N A NY increased its holdings in shares of NBT Bancorp by 1.7% during the 1st quarter. NBT Bank N A NY now owns 276,053 shares of the bank’s stock valued at $11,843,000 after acquiring an additional 4,595 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of NBT Bancorp during the 1st quarter valued at about $884,000. Finally, GAMMA Investing LLC increased its holdings in shares of NBT Bancorp by 4,554.4% during the 1st quarter. GAMMA Investing LLC now owns 60,275 shares of the bank’s stock valued at $2,586,000 after acquiring an additional 58,980 shares during the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Stock Performance

NBTB opened at $43.11 on Friday. NBT Bancorp Inc. has a 52-week low of $37.31 and a 52-week high of $52.44. The firm has a market capitalization of $2.04 billion, a PE ratio of 14.27 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50-day simple moving average is $42.37 and its 200 day simple moving average is $43.82.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share (EPS) 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 analyst estimates of $151.00 million. NBT Bancorp had a return on equity of 9.57% and a net margin of 17.99%. During the same quarter in the prior year, the company earned $0.68 earnings per share. As a group, sell-side analysts expect that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Monday, June 2nd. NBT Bancorp’s dividend payout ratio is currently 45.03%.

Insider Buying and Selling

In other NBT Bancorp news, Director John H. Watt, Jr. sold 7,869 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the sale, the director owned 116,027 shares of the company’s stock, valued at approximately $4,875,454.54. This trade represents a 6.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Heidi M. Hoeller bought 2,588 shares of NBT Bancorp stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of $42.88 per share, for a total transaction of $110,973.44. Following the acquisition, the director owned 11,578 shares in the company, valued at approximately $496,464.64. This represents a 28.79% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 5,491 shares of company stock worth $235,674 in the last three months. 3.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NBTB has been the topic of a number of analyst reports. Hovde Group initiated coverage on NBT Bancorp in a report on Friday, March 21st. They set a “market perform” rating and a $50.00 price objective on the stock. Wall Street Zen lowered NBT Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. DA Davidson lowered 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. Finally, Piper Sandler raised NBT Bancorp to a “neutral” rating and set a $47.00 target price on the stock in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.60.

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.