Citigroup Inc. Buys 33,002 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Citigroup Inc. boosted its stake in NBT Bancorp Inc. (NASDAQ:NBTB – Get Rating) by 157.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,948 shares of the bank’s stock after purchasing an additional 33,002 shares during the period. Citigroup Inc.’s holdings in NBT Bancorp were worth $2,342,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in shares of NBT Bancorp during the first quarter valued at $27,000. MinichMacGregor Wealth Management LLC bought a new position in shares of NBT Bancorp during the fourth quarter valued at $50,000. Captrust Financial Advisors raised its stake in shares of NBT Bancorp by 198.9% during the first quarter. Captrust Financial Advisors now owns 2,173 shares of the bank’s stock valued at $79,000 after acquiring an additional 1,446 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of NBT Bancorp during the fourth quarter worth $91,000. Finally, Quantbot Technologies LP acquired a new stake in shares of NBT Bancorp during the first quarter worth $189,000. Institutional investors own 55.87% of the company’s stock.

Insider Activity at NBT Bancorp

In related news, CFO Scott Allen Kingsley acquired 2,310 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were acquired at an average cost of $38.50 per share, for a total transaction of $88,935.00. Following the purchase, the chief financial officer now owns 21,796 shares in the company, valued at $839,146. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other NBT Bancorp news, CFO Scott Allen Kingsley acquired 2,310 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were acquired at an average price of $38.50 per share, with a total value of $88,935.00. Following the completion of the transaction, the chief financial officer now owns 21,796 shares in the company, valued at $839,146. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy E. Delaney purchased 40,000 shares of NBT Bancorp stock in a transaction that occurred on Tuesday, May 2nd. The shares were bought at an average price of $29.77 per share, with a total value of $1,190,800.00. Following the transaction, the director now owns 76,535 shares of the company’s stock, valued at approximately $2,278,446.95. The disclosure for this purchase can be found here. 3.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on NBTB. Stephens decreased their price objective on shares of NBT Bancorp from $47.00 to $42.00 in a research report on Thursday, January 26th. StockNews.com began coverage on shares of NBT Bancorp in a research report on Thursday, May 18th. They set a “sell” rating for the company. Raymond James decreased their price objective on shares of NBT Bancorp from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research report on Thursday, April 6th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of NBT Bancorp from $42.00 to $37.50 and set a “market perform” rating for the company in a report on Thursday, April 6th.

NBT Bancorp Trading Down 2.4 %

NASDAQ:NBTB opened at $34.63 on Thursday. NBT Bancorp Inc. has a 12 month low of $27.52 and a 12 month high of $48.68. The firm has a fifty day simple moving average of $33.39 and a two-hundred day simple moving average of $39.21. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 10.19 and a beta of 0.54.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Wednesday, May 31st. NBT Bancorp’s dividend payout ratio (DPR) is 35.29%.

About NBT Bancorp

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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.