Commonwealth Equity Services LLC Has $5.70 Million Stock Holdings in NBT Bancorp Inc. $NBTB

Commonwealth Equity Services LLC decreased its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 13.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 137,305 shares of the bank’s stock after selling 21,253 shares during the period. Commonwealth Equity Services LLC’s holdings in NBT Bancorp were worth $5,701,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp raised its position in shares of NBT Bancorp by 7.8% during the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after acquiring an additional 182,793 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in NBT Bancorp by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,834 shares of the bank’s stock worth $95,531,000 after purchasing an additional 8,044 shares in the last quarter. Victory Capital Management Inc. increased its holdings in NBT Bancorp by 1.1% during the 3rd quarter. Victory Capital Management Inc. now owns 650,125 shares of the bank’s stock worth $27,149,000 after purchasing an additional 7,253 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in NBT Bancorp by 63.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock worth $18,741,000 after purchasing an additional 174,639 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of NBT Bancorp by 26.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock worth $13,986,000 after buying an additional 70,594 shares during the last quarter. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB opened at $46.41 on Friday. The business has a fifty day moving average price of $44.78 and a two-hundred day moving average price of $43.65. The stock has a market capitalization of $2.41 billion, a PE ratio of 13.22 and a beta of 0.49. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.87. NBT Bancorp Inc. has a fifty-two week low of $39.19 and a fifty-two week high of $47.07.

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

NBT Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on NBTB. Brean Capital downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Hovde Group cut their target price 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. DA Davidson restated a “buy” rating and set a $52.00 price objective on shares of NBT Bancorp in a research report on Monday, April 27th. Janney Montgomery Scott downgraded shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Finally, Piper Sandler began coverage on shares of NBT Bancorp in a research report on Monday, March 16th. They set an “overweight” rating and a $50.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.50.

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.