NBT Bancorp Inc. $NBTB Shares Acquired by IFP Advisors Inc

IFP Advisors Inc boosted its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 85,479.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,818 shares of the bank’s stock after acquiring an additional 24,789 shares during the quarter. IFP Advisors Inc’s holdings in NBT Bancorp were worth $1,030,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in shares of NBT Bancorp by 1,645.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after buying an additional 609 shares during the last quarter. Larson Financial Group LLC grew its position in NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after purchasing an additional 799 shares during the last quarter. Allworth Financial LP bought a new position in NBT Bancorp in the 3rd quarter worth about $46,000. Cloud Capital Management LLC bought a new position in NBT Bancorp in the 3rd quarter worth about $66,000. Finally, Resources Management Corp CT ADV grew its position in NBT Bancorp by 165.8% in the 3rd quarter. Resources Management Corp CT ADV now owns 2,724 shares of the bank’s stock worth $114,000 after purchasing an additional 1,699 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on NBTB shares. DA Davidson restated a “buy” rating and issued a $52.00 target price on shares of NBT Bancorp in a research report on Monday, April 27th. Weiss Ratings upgraded shares of NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Brean Capital cut shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Piper Sandler initiated coverage on shares of NBT Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $50.00 price target for the company. Finally, Hovde Group reduced their price target on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.50.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB opened at $45.93 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $2.39 billion, a PE ratio of 13.09 and a beta of 0.47. NBT Bancorp Inc. has a 52 week low of $39.19 and a 52 week high of $46.92. The firm has a 50 day simple moving average of $43.84 and a 200 day simple moving average of $43.33.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). The firm had revenue of $184.48 million during the quarter, compared to analysts’ expectations of $185.36 million. NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. As a group, research analysts expect that NBT Bancorp Inc. will post 4.15 earnings per share for the current year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, June 1st. NBT Bancorp’s dividend payout ratio is currently 42.17%.

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.