BlackRock Inc. Has $239.14 Million Stock Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

BlackRock Inc. boosted its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB – Get Rating) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 6,301,458 shares of the bank’s stock after purchasing an additional 28,835 shares during the period. BlackRock Inc. owned about 0.15% of NBT Bancorp worth $239,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of NBT Bancorp by 136.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 436,135 shares of the bank’s stock valued at $16,394,000 after buying an additional 251,323 shares during the last quarter. Invesco Ltd. lifted its stake in NBT Bancorp by 163.7% in the first quarter. Invesco Ltd. now owns 316,061 shares of the bank’s stock valued at $11,420,000 after acquiring an additional 196,226 shares during the last quarter. State Street Corp grew its position in NBT Bancorp by 9.1% in the first quarter. State Street Corp now owns 1,909,226 shares of the bank’s stock worth $68,980,000 after acquiring an additional 159,606 shares in the last quarter. RMB Capital Management LLC acquired a new position in shares of NBT Bancorp during the 2nd quarter worth $2,819,000. Finally, TD Asset Management Inc. raised its holdings in shares of NBT Bancorp by 38.0% during the 3rd quarter. TD Asset Management Inc. now owns 253,600 shares of the bank’s stock valued at $9,700,000 after purchasing an additional 69,800 shares in the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Scott Allen Kingsley acquired 2,310 shares of the stock in a transaction dated Tuesday, March 7th. The shares were acquired at an average price of $38.50 per share, for a total transaction of $88,935.00. Following the completion of the purchase, the chief financial officer now owns 21,796 shares in the company, valued at approximately $839,146. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NBTB. Stephens cut their target price on NBT Bancorp from $47.00 to $42.00 in a report on Thursday, January 26th. Raymond James started coverage on NBT Bancorp in a research report on Wednesday, December 21st. They set a “strong-buy” rating and a $49.00 target price for the company. Finally, StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Friday.

NBT Bancorp Trading Down 4.6 %

Shares of NASDAQ:NBTB opened at $35.39 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50-day moving average is $40.56 and its 200-day moving average is $41.91. The company has a market cap of $1.52 billion, a P/E ratio of 10.05 and a beta of 0.56. NBT Bancorp Inc. has a 52-week low of $33.53 and a 52-week high of $48.68.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Tuesday, February 28th. NBT Bancorp’s dividend payout ratio (DPR) is currently 34.09%.

NBT Bancorp Profile

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NBT Bancorp, Inc is a holding company, which engages in the provision of financial solutions. It offers commercial banking, retail banking, and wealth management, as well as trust and investment services. The company was founded in 1986 and is headquartered in Norwich, NY.