American Century Companies Inc. Cuts Stock Position in NBT Bancorp Inc. $NBTB

American Century Companies Inc. decreased its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,370 shares of the bank’s stock after selling 15,034 shares during the quarter. American Century Companies Inc. owned about 0.55% of NBT Bancorp worth $10,860,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. acquired a new position in shares of NBT Bancorp during the second quarter worth about $33,000. Farther Finance Advisors LLC grew its stake in shares of NBT Bancorp by 2,902.1% in the second quarter. Farther Finance Advisors LLC now owns 1,441 shares of the bank’s stock valued at $60,000 after buying an additional 1,393 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of NBT Bancorp by 38.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,951 shares of the bank’s stock valued at $81,000 after buying an additional 546 shares during the period. Stone House Investment Management LLC acquired a new position in NBT Bancorp during the 1st quarter worth approximately $88,000. Finally, US Bancorp DE lifted its position in NBT Bancorp by 68.5% during the 1st quarter. US Bancorp DE now owns 3,093 shares of the bank’s stock worth $133,000 after acquiring an additional 1,257 shares in the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Timothy E. Delaney acquired 10,000 shares of NBT Bancorp stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average price of $40.98 per share, for a total transaction of $409,800.00. Following the transaction, the director directly owned 51,885 shares of the company’s stock, valued at $2,126,247.30. This trade represents a 23.87% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on NBTB shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NBT Bancorp in a research report on Wednesday, October 8th. DA Davidson downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Piper Sandler set a $47.00 price target on shares of NBT Bancorp and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Janney Montgomery Scott upgraded shares of NBT Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.25.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB opened at $41.82 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.94 and a beta of 0.51. NBT Bancorp Inc. has a twelve month low of $37.31 and a twelve month high of $52.44. The business has a 50 day simple moving average of $41.06 and a 200-day simple moving average of $42.00.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, October 27th. The bank reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. NBT Bancorp had a net margin of 17.24% and a return on equity of 10.35%. The firm had revenue of $186.07 million during the quarter, compared to the consensus estimate of $183.87 million. As a group, equities research analysts expect that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.37 per share. 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 is currently 49.33%.

NBT Bancorp 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.