Deprince Race & Zollo Inc. Sells 137,771 Shares of NBT Bancorp Inc. $NBTB

Deprince Race & Zollo Inc. lowered its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 18.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 610,841 shares of the bank’s stock after selling 137,771 shares during the period. Deprince Race & Zollo Inc. owned about 1.17% of NBT Bancorp worth $25,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NBTB. EverSource Wealth Advisors LLC boosted its stake in shares of NBT Bancorp by 1,645.9% during the second quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after purchasing an additional 609 shares in the last quarter. Hantz Financial Services Inc. bought a new position in NBT Bancorp in the 2nd quarter valued at approximately $33,000. Farther Finance Advisors LLC boosted its position in NBT Bancorp by 2,902.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,441 shares of the bank’s stock worth $60,000 after buying an additional 1,393 shares during the period. GAMMA Investing LLC boosted its position in NBT Bancorp by 38.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,951 shares of the bank’s stock worth $81,000 after buying an additional 546 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in NBT Bancorp by 23.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,316 shares of the bank’s stock worth $139,000 after acquiring an additional 620 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

Insider Buying and Selling

In related news, Director Timothy E. Delaney purchased 10,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was purchased at an average cost of $40.98 per share, with a total value of $409,800.00. Following the completion of the purchase, the director owned 51,885 shares in the company, valued at approximately $2,126,247.30. This trade represents a 23.87% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.03% of the company’s stock.

Analysts Set New Price Targets

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

NBT Bancorp Price Performance

Shares of NBT Bancorp stock opened at $42.71 on Friday. The stock’s 50-day moving average is $41.77 and its 200 day moving average is $42.14. NBT Bancorp Inc. has a one year low of $37.31 and a one year high of $49.43. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 14.24 and a beta of 0.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88.

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 analysts’ consensus estimates of $0.97 by $0.08. The business had revenue of $186.07 million during the quarter, compared to the consensus estimate of $183.87 million. NBT Bancorp had a return on equity of 10.35% and a net margin of 17.24%. Equities research analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.48 annualized dividend and a yield of 3.5%. NBT Bancorp’s dividend payout ratio is currently 49.33%.

NBT Bancorp Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.