NBT Bancorp Inc. (NBTB) Position Maintained by Opes Advisors Inc
Opes Advisors Inc maintained its position in NBT Bancorp Inc. (NASDAQ:NBTB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,559 shares of the bank’s stock at the close of the second quarter. Opes Advisors Inc’s holdings in NBT Bancorp were worth $308,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of NBT Bancorp by 47,917.6% in the first quarter. BlackRock Inc. now owns 5,456,241 shares of the bank’s stock worth $202,263,000 after acquiring an additional 5,444,878 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of NBT Bancorp by 7.4% in the first quarter. Vanguard Group Inc. now owns 4,067,362 shares of the bank’s stock worth $150,777,000 after acquiring an additional 279,331 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NBT Bancorp by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,951,150 shares of the bank’s stock worth $72,330,000 after acquiring an additional 48,519 shares during the last quarter. State Street Corp lifted its holdings in shares of NBT Bancorp by 14.1% in the first quarter. State Street Corp now owns 1,246,976 shares of the bank’s stock worth $46,225,000 after acquiring an additional 154,441 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of NBT Bancorp by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 815,177 shares of the bank’s stock worth $30,121,000 after acquiring an additional 18,462 shares during the last quarter. 49.20% of the stock is owned by hedge funds and other institutional investors.
Shares of NBT Bancorp Inc. (NASDAQ NBTB) traded up 1.68% on Wednesday, reaching $33.97. 31,343 shares of the company were exchanged. The stock’s 50-day moving average is $34.08 and its 200 day moving average is $36.74. The firm has a market capitalization of $1.48 billion, a PE ratio of 18.26 and a beta of 0.90. NBT Bancorp Inc. has a 12-month low of $31.28 and a 12-month high of $42.56.
NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, July 24th. The bank reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The company had revenue of $99.93 million during the quarter, compared to the consensus estimate of $100.91 million. NBT Bancorp had a return on equity of 8.81% and a net margin of 19.68%. During the same quarter in the previous year, the company posted $0.46 EPS. On average, analysts forecast that NBT Bancorp Inc. will post $1.95 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.75%. NBT Bancorp’s payout ratio is 49.46%.
A number of research firms have recently commented on NBTB. Piper Jaffray Companies raised shares of NBT Bancorp from an “underweight” rating to a “neutral” rating and set a $35.50 target price for the company in a report on Thursday, June 8th. BidaskClub cut shares of NBT Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Zacks Investment Research cut shares of NBT Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Finally, ValuEngine cut shares of NBT Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $36.00.
NBT Bancorp Profile
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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