State of Tennessee Treasury Department lessened its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,998 shares of the bank’s stock after selling 2,402 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.09% of NBT Bancorp worth $1,395,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its stake in shares of NBT Bancorp by 37.2% in the 2nd quarter. Bank of Montreal Can now owns 4,021 shares of the bank’s stock valued at $149,000 after purchasing an additional 1,090 shares during the period. Biondo Investment Advisors LLC purchased a new position in shares of NBT Bancorp in the 2nd quarter valued at approximately $201,000. Amalgamated Bank lifted its stake in shares of NBT Bancorp by 1.1% in the 2nd quarter. Amalgamated Bank now owns 5,814 shares of the bank’s stock valued at $215,000 after purchasing an additional 66 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of NBT Bancorp by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,867 shares of the bank’s stock valued at $217,000 after purchasing an additional 47 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of NBT Bancorp in the 2nd quarter valued at approximately $218,000. Institutional investors own 49.08% of the company’s stock.

Shares of NBT Bancorp Inc. (NBTB) opened at $37.87 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.20. NBT Bancorp Inc. has a fifty-two week low of $31.28 and a fifty-two week high of $42.56. The company has a market capitalization of $1,649.21, a price-to-earnings ratio of 19.73 and a beta of 0.90.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. NBT Bancorp had a return on equity of 9.01% and a net margin of 20.02%. The company had revenue of $102.71 million during the quarter, compared to analyst estimates of $101.31 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. NBT Bancorp’s revenue was up 6.6% compared to the same quarter last year. analysts forecast that NBT Bancorp Inc. will post 2 EPS for the current fiscal year.

NBT Bancorp declared that its Board of Directors has approved a stock buyback plan on Monday, October 23rd that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Thursday, November 30th. NBT Bancorp’s payout ratio is currently 47.92%.

A number of research analysts recently weighed in on the company. Zacks Investment Research raised NBT Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Thursday, October 26th. BidaskClub lowered NBT Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Piper Jaffray Companies reaffirmed a “hold” rating and set a $35.00 price objective on shares of NBT Bancorp in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.00 price objective on shares of NBT Bancorp in a research report on Tuesday, October 3rd. Finally, ValuEngine lowered NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.67.

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In related news, Director V Daniel Robinson II sold 15,000 shares of NBT Bancorp stock in a transaction on Friday, October 27th. The stock was sold at an average price of $38.76, for a total value of $581,400.00. Following the completion of the sale, the director now owns 10,141 shares of the company’s stock, valued at $393,065.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 65,000 shares of company stock valued at $2,509,900 in the last ninety days. 3.07% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for NBT Bancorp (NASDAQ:NBTB)

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