Principal Financial Group Inc. Has $11.86 Million Stake in NBT Bancorp Inc. (NASDAQ:NBTB)

Principal Financial Group Inc. grew its position in NBT Bancorp Inc. (NASDAQ:NBTB – Get Rating) by 3.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 273,123 shares of the bank’s stock after purchasing an additional 8,959 shares during the quarter. Principal Financial Group Inc.’s holdings in NBT Bancorp were worth $11,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NBTB. Goldman Sachs Group Inc. lifted its position in shares of NBT Bancorp by 136.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 436,135 shares of the bank’s stock worth $16,394,000 after purchasing an additional 251,323 shares during the period. Invesco Ltd. increased its holdings in NBT Bancorp by 163.7% during the first quarter. Invesco Ltd. now owns 316,061 shares of the bank’s stock worth $11,420,000 after buying an additional 196,226 shares during the last quarter. State Street Corp increased its holdings in NBT Bancorp by 9.1% during the first quarter. State Street Corp now owns 1,909,226 shares of the bank’s stock worth $68,980,000 after buying an additional 159,606 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of NBT Bancorp by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,888,341 shares of the bank’s stock worth $185,512,000 after purchasing an additional 96,461 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of NBT Bancorp by 50.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 212,526 shares of the bank’s stock worth $9,228,000 after purchasing an additional 70,828 shares in the last quarter. 55.87% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

NBTB has been the subject of several recent research reports. Raymond James reduced their target price on shares of NBT Bancorp from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 6th. StockNews.com assumed coverage on shares of NBT Bancorp in a research report on Thursday, May 18th. They set a “sell” rating for the company. Stephens dropped their target price on shares of NBT Bancorp from $47.00 to $42.00 in a research report on Thursday, January 26th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of NBT Bancorp from $42.00 to $37.50 and set a “market perform” rating for the company in a research report on Thursday, April 6th.

NBT Bancorp Trading Up 0.2 %

Shares of NBTB opened at $34.69 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. NBT Bancorp Inc. has a fifty-two week low of $27.52 and a fifty-two week high of $48.68. The firm has a 50 day moving average price of $33.39 and a 200-day moving average price of $39.21. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 10.20 and a beta of 0.54.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Wednesday, May 31st. NBT Bancorp’s payout ratio is 35.29%.

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.