CreativeOne Wealth LLC Makes New $636,000 Investment in NBT Bancorp Inc. $NBTB

CreativeOne Wealth LLC bought a new position in NBT Bancorp Inc. (NASDAQ:NBTB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 15,232 shares of the bank’s stock, valued at approximately $636,000.

Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of NBT Bancorp by 7.8% during the second quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after purchasing an additional 182,793 shares during the period. Geode Capital Management LLC increased its stake in NBT Bancorp by 10.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,298,769 shares of the bank’s stock worth $53,971,000 after buying an additional 126,718 shares during the period. Victory Capital Management Inc. increased its stake in NBT Bancorp by 1.1% in the 3rd quarter. Victory Capital Management Inc. now owns 650,125 shares of the bank’s stock worth $27,149,000 after buying an additional 7,253 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in NBT Bancorp by 63.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock valued at $18,741,000 after buying an additional 174,639 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in NBT Bancorp by 26.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock valued at $13,986,000 after buying an additional 70,594 shares in the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Price Performance

Shares of NBTB stock opened at $41.25 on Friday. The stock’s 50-day moving average is $43.86 and its 200 day moving average is $42.73. NBT Bancorp Inc. has a 1-year low of $37.31 and a 1-year high of $46.92. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $2.15 billion, a P/E ratio of 12.50 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, January 26th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. NBT Bancorp had a net margin of 18.67% and a return on equity of 10.86%. The business had revenue of $185.14 million during the quarter, compared to analyst estimates of $183.63 million. Research analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 3.6%. NBT Bancorp’s dividend payout ratio is presently 44.85%.

Insider Buying and Selling

In other NBT Bancorp news, EVP Amy Wiles sold 4,435 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $45.72, for a total value of $202,768.20. Following the completion of the sale, the executive vice president directly owned 21,500 shares in the company, valued at $982,980. This trade represents a 17.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy E. Delaney purchased 22,730 shares of NBT Bancorp stock in a transaction dated Wednesday, January 28th. The shares were acquired at an average cost of $42.97 per share, for a total transaction of $976,708.10. Following the completion of the transaction, the director owned 74,615 shares of the company’s stock, valued at approximately $3,206,206.55. This represents a 43.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on NBTB shares. Weiss Ratings upgraded NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Janney Montgomery Scott downgraded NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. Brean Capital lowered NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, DA Davidson assumed coverage on NBT Bancorp in a research report on Wednesday, February 25th. They set a “buy” rating and a $54.00 price target on the stock. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, NBT Bancorp has an average rating of “Moderate Buy” and an average target price of $50.33.

About NBT Bancorp

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.