Y Intercept Hong Kong Ltd Acquires New Holdings in NBT Bancorp Inc. $NBTB

Y Intercept Hong Kong Ltd purchased a new stake in NBT Bancorp Inc. (NASDAQ:NBTB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,900 shares of the bank’s stock, valued at approximately $702,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MQS Management LLC increased its position in NBT Bancorp by 55.1% in the 2nd quarter. MQS Management LLC now owns 11,722 shares of the bank’s stock valued at $487,000 after acquiring an additional 4,166 shares during the period. AlphaQuest LLC increased its position in NBT Bancorp by 41.7% in the 2nd quarter. AlphaQuest LLC now owns 14,632 shares of the bank’s stock valued at $608,000 after acquiring an additional 4,307 shares during the period. First Citizens Bank & Trust Co. acquired a new position in NBT Bancorp in the 2nd quarter valued at approximately $292,000. Members Advisory Group LLC acquired a new position in NBT Bancorp in the 2nd quarter valued at approximately $1,393,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in NBT Bancorp in the 2nd quarter valued at approximately $294,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NBT Bancorp news, Director Timothy E. Delaney acquired 2,000 shares of the company’s stock in a transaction on Friday, October 31st. The shares were purchased at an average cost of $40.50 per share, with a total value of $81,000.00. Following the completion of the purchase, the director owned 41,885 shares of the company’s stock, valued at approximately $1,696,342.50. This represents a 5.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David J. Nasca sold 19,603 shares of the firm’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $43.42, for a total transaction of $851,162.26. Following the completion of the transaction, the director directly owned 82,910 shares in the company, valued at $3,599,952.20. This trade represents a 19.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NBTB shares. Janney Montgomery Scott upgraded shares of NBT Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. Piper Sandler set a $47.00 price target on shares of NBT Bancorp and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Wall Street Zen upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of NBT Bancorp in a research report on Wednesday, October 8th. Finally, DA Davidson cut shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, NBT Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

NBT Bancorp Stock Up 2.4%

Shares of NASDAQ NBTB opened at $41.72 on Thursday. The firm has a market cap of $2.19 billion, a PE ratio of 13.91 and a beta of 0.54. NBT Bancorp Inc. has a 12-month low of $37.31 and a 12-month high of $52.44. The company’s fifty day simple moving average is $42.01 and its 200 day simple moving average is $42.24. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.10.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, October 27th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.08. The business had revenue of $186.07 million for the quarter, compared to analyst estimates of $183.87 million. NBT Bancorp had a net margin of 17.24% and a return on equity of 10.35%. As a group, sell-side analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, December 1st. NBT Bancorp’s dividend payout ratio (DPR) is 49.33%.

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.