Financial Planning Hawaii Inc. Purchases New Position in NBT Bancorp Inc. $NBTB

Financial Planning Hawaii Inc. acquired a new stake in NBT Bancorp Inc. (NASDAQ:NBTB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,439 shares of the bank’s stock, valued at approximately $641,000.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after purchasing an additional 609 shares during the period. Larson Financial Group LLC grew its stake in NBT Bancorp by 13,316.7% during the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after buying an additional 799 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new position in NBT Bancorp during the third quarter worth approximately $42,000. Allworth Financial LP acquired a new position in NBT Bancorp during the third quarter worth approximately $46,000. Finally, Cloud Capital Management LLC purchased a new stake in NBT Bancorp in the third quarter valued at approximately $66,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Up 0.4%

NBT Bancorp stock opened at $42.02 on Tuesday. The stock has a 50 day moving average of $43.57 and a two-hundred day moving average of $42.50. NBT Bancorp Inc. has a twelve month low of $37.31 and a twelve month high of $46.92. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 12.73 and a beta of 0.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

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

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, March 2nd. NBT Bancorp’s payout ratio is currently 44.85%.

Insiders Place Their Bets

In other NBT Bancorp news, EVP Amy Wiles sold 4,435 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $45.72, for a total transaction of $202,768.20. Following the completion of the transaction, the executive vice president owned 21,500 shares in the company, valued at approximately $982,980. This represents a 17.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy E. Delaney bought 22,730 shares of the stock in a transaction dated Wednesday, January 28th. The stock was purchased at an average cost of $42.97 per share, for a total transaction of $976,708.10. Following the acquisition, 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 ownership of the stock. The SEC filing for this purchase provides additional information. 3.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Janney Montgomery Scott lowered shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Piper Sandler initiated coverage on shares of NBT Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $50.00 price target for the company. DA Davidson started coverage on shares of NBT Bancorp in a research note on Wednesday, February 25th. They set a “buy” rating and a $54.00 price target for the company. Weiss Ratings raised shares of NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Finally, Brean Capital lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

NBT Bancorp Company 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.