Hsbc Holdings PLC Has $293,000 Stock Position in NBT Bancorp Inc. $NBTB

Hsbc Holdings PLC reduced its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 59.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,823 shares of the bank’s stock after selling 10,090 shares during the quarter. Hsbc Holdings PLC’s holdings in NBT Bancorp were worth $293,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. TD Private Client Wealth LLC boosted its stake in NBT Bancorp by 51.3% during the first quarter. TD Private Client Wealth LLC now owns 867 shares of the bank’s stock worth $37,000 after acquiring an additional 294 shares in the last quarter. Cloud Capital Management LLC bought a new position in NBT Bancorp during the first quarter worth $68,000. Stone House Investment Management LLC bought a new position in NBT Bancorp during the first quarter worth $88,000. KBC Group NV increased its position in NBT Bancorp by 28.4% in the 1st quarter. KBC Group NV now owns 2,763 shares of the bank’s stock valued at $119,000 after buying an additional 611 shares in the last quarter. Finally, US Bancorp DE increased its position in NBT Bancorp by 68.5% in the 1st quarter. US Bancorp DE now owns 3,093 shares of the bank’s stock valued at $133,000 after buying an additional 1,257 shares in the last quarter. 58.46% of the stock is owned by institutional investors.

NBT Bancorp Stock Down 0.1%

Shares of NASDAQ NBTB opened at $43.88 on Thursday. The stock has a market capitalization of $2.30 billion, a P/E ratio of 15.84 and a beta of 0.60. The company has a 50-day moving average price of $42.81 and a 200-day moving average price of $42.69. NBT Bancorp Inc. has a 1 year low of $37.31 and a 1 year high of $52.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.88 and a quick ratio of 0.88.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, July 28th. The bank reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. NBT Bancorp had a net margin of 16.10% and a return on equity of 9.81%. The company had revenue of $171.15 million for the quarter, compared to analyst estimates of $171.04 million. On average, equities research analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.4%. NBT Bancorp’s payout ratio is 53.43%.

Insider Buying and Selling at NBT Bancorp

In related news, Director David J. Nasca sold 19,603 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $43.42, for a total transaction of $851,162.26. Following the transaction, the director directly owned 82,910 shares of the company’s stock, valued at $3,599,952.20. This trade represents a 19.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NBTB has been the subject of a number of research analyst reports. Piper Sandler raised NBT Bancorp to a “neutral” rating and set a $47.00 target price for the company in a research report on Tuesday, July 8th. DA Davidson boosted their target price on NBT Bancorp from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Finally, Wall Street Zen raised NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.00.

NBT Bancorp Company Profile

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.