65,981 Shares in NBT Bancorp Inc. (NASDAQ:NBTB) Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC bought a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 65,981 shares of the bank’s stock, valued at approximately $3,151,000.

Several other institutional investors have also added to or reduced their stakes in NBTB. Raymond James Financial Inc. purchased a new stake in shares of NBT Bancorp in the 4th quarter worth $23,651,000. JPMorgan Chase & Co. grew its holdings in NBT Bancorp by 307.0% during the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank’s stock valued at $17,998,000 after purchasing an additional 284,267 shares during the period. Assenagon Asset Management S.A. purchased a new stake in NBT Bancorp in the fourth quarter worth about $12,007,000. Norges Bank bought a new position in shares of NBT Bancorp in the fourth quarter worth about $6,736,000. Finally, Great Lakes Advisors LLC purchased a new position in shares of NBT Bancorp during the 4th quarter valued at about $4,294,000. 58.46% of the stock is currently owned by institutional investors.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB opened at $43.09 on Friday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 14.56 and a beta of 0.48. The firm has a fifty day moving average price of $46.19 and a 200 day moving average price of $46.77. NBT Bancorp Inc. has a fifty-two week low of $32.93 and a fifty-two week high of $52.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter in the prior year, the company posted $0.72 EPS. As a group, sell-side analysts expect that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Monday, March 3rd. NBT Bancorp’s payout ratio is 45.95%.

Insider Transactions at NBT Bancorp

In related news, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the transaction, the executive vice president now owns 25,564 shares in the company, valued at approximately $1,238,575.80. This trade represents a 16.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Heidi M. Hoeller bought 678 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $48.45 per share, with a total value of $32,849.10. Following the acquisition, the director now owns 6,437 shares in the company, valued at approximately $311,872.65. This trade represents a 11.77 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NBTB. Hovde Group assumed coverage on shares of NBT Bancorp in a report on Friday, March 21st. They issued a “market perform” rating and a $50.00 target price for the company. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson initiated coverage on NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target for the company. Finally, StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $54.50.

NBT Bancorp Company Profile

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.