NBT Bancorp Inc. $NBTB Position Boosted by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC raised its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 334,300 shares of the bank’s stock after acquiring an additional 7,800 shares during the period. Ceredex Value Advisors LLC owned approximately 0.71% of NBT Bancorp worth $13,890,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. PL Capital Advisors LLC acquired a new position in shares of NBT Bancorp during the second quarter valued at $16,326,000. Geode Capital Management LLC increased its stake in NBT Bancorp by 10.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,298,769 shares of the bank’s stock valued at $53,971,000 after buying an additional 126,718 shares during the period. Nuveen LLC bought a new stake in shares of NBT Bancorp during the 1st quarter worth about $5,159,000. Jane Street Group LLC lifted its stake in shares of NBT Bancorp by 1,188.4% in the 1st quarter. Jane Street Group LLC now owns 88,284 shares of the bank’s stock worth $3,787,000 after acquiring an additional 81,432 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of NBT Bancorp in the first quarter valued at approximately $2,010,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Insider Transactions at NBT Bancorp

In other news, Director Timothy E. Delaney bought 10,000 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was purchased at an average price of $40.98 per share, with a total value of $409,800.00. Following the transaction, the director directly owned 51,885 shares in the company, valued at approximately $2,126,247.30. The trade was a 23.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on NBTB. DA Davidson downgraded NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. 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 objective on shares of NBT Bancorp and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NBT Bancorp in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.00.

NBT Bancorp Stock Performance

Shares of NBTB opened at $41.46 on Friday. The company has a market capitalization of $2.17 billion, a PE ratio of 13.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50 day moving average price is $41.14 and its 200 day moving average price is $42.07. NBT Bancorp Inc. has a 52 week low of $37.31 and a 52 week high of $52.44.

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

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, December 1st. NBT Bancorp’s dividend payout ratio is currently 49.33%.

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.