Deutsche Bank AG Has $1.56 Million Stock Holdings in NBT Bancorp Inc. $NBTB

Deutsche Bank AG decreased its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,348 shares of the bank’s stock after selling 3,297 shares during the period. Deutsche Bank AG owned 0.08% of NBT Bancorp worth $1,559,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Leigh Baldwin & CO. LLC acquired a new stake in NBT Bancorp in the 4th quarter valued at approximately $52,606,000. Silvercrest Asset Management Group LLC bought a new stake in shares of NBT Bancorp in the fourth quarter valued at approximately $38,978,000. Northern Trust Corp boosted its position in shares of NBT Bancorp by 4.9% in the fourth quarter. Northern Trust Corp now owns 726,413 shares of the bank’s stock valued at $34,693,000 after acquiring an additional 33,855 shares during the period. Victory Capital Management Inc. grew its stake in shares of NBT Bancorp by 4.7% in the first quarter. Victory Capital Management Inc. now owns 697,879 shares of the bank’s stock worth $29,939,000 after acquiring an additional 31,317 shares during the last quarter. Finally, NBT Bank N A NY increased its position in NBT Bancorp by 1.7% during the first quarter. NBT Bank N A NY now owns 276,053 shares of the bank’s stock worth $11,843,000 after acquiring an additional 4,595 shares during the period. 58.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. DA Davidson increased their price target on shares of NBT Bancorp from $53.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Piper Sandler raised shares of NBT Bancorp to a “neutral” rating and set a $47.00 price objective for the company in a research report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $52.00.

NBT Bancorp Stock Up 5.6%

Shares of NBTB opened at $44.88 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $42.15 and a two-hundred day moving average price of $42.91. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 16.20 and a beta of 0.59. NBT Bancorp Inc. has a 12 month low of $37.31 and a 12 month high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, July 28th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The business had revenue of $171.15 million during the quarter, compared to analysts’ expectations of $171.04 million. NBT Bancorp had a net margin of 16.10% and a return on equity of 9.81%. Equities analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be given a dividend of $0.37 per share. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, August 29th. This represents a $1.48 annualized dividend and a yield of 3.3%. NBT Bancorp’s dividend payout ratio is currently 49.10%.

Insider Activity

In other NBT Bancorp news, Director David J. Nasca sold 19,603 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $43.42, for a total value of $851,162.26. Following the transaction, the director directly owned 82,910 shares of the company’s stock, valued at approximately $3,599,952.20. This trade represents a 19.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John H. Watt, Jr. sold 7,869 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $42.02, for a total value of $330,655.38. Following the completion of the transaction, the director directly owned 116,027 shares in the company, valued at $4,875,454.54. The trade was a 6.35% decrease in their position. The disclosure for this sale can be found here. Company 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.