Campbell & CO Investment Adviser LLC Makes New $571,000 Investment in NBT Bancorp Inc. (NASDAQ:NBTB)

Campbell & CO Investment Adviser LLC bought a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTBFree Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,026 shares of the bank’s stock, valued at approximately $571,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC purchased a new stake in NBT Bancorp during the third quarter valued at approximately $855,000. Charles Schwab Investment Management Inc. increased its stake in NBT Bancorp by 11.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 504,681 shares of the bank’s stock valued at $15,993,000 after purchasing an additional 51,671 shares in the last quarter. Swiss National Bank increased its stake in NBT Bancorp by 11.1% during the 3rd quarter. Swiss National Bank now owns 103,800 shares of the bank’s stock valued at $3,289,000 after purchasing an additional 10,400 shares in the last quarter. Amalgamated Bank increased its stake in NBT Bancorp by 6.8% during the 3rd quarter. Amalgamated Bank now owns 18,294 shares of the bank’s stock valued at $580,000 after purchasing an additional 1,163 shares in the last quarter. Finally, Barclays PLC increased its stake in NBT Bancorp by 16.8% during the 3rd quarter. Barclays PLC now owns 63,799 shares of the bank’s stock valued at $2,022,000 after purchasing an additional 9,181 shares in the last quarter. Hedge funds and other institutional investors own 58.38% of the company’s stock.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director Lowell A. Seifter sold 3,230 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $36.96, for a total transaction of $119,380.80. Following the transaction, the director now directly owns 49,132 shares of the company’s stock, valued at $1,815,918.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NBT Bancorp news, CFO Scott Allen Kingsley purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were purchased at an average cost of $36.80 per share, with a total value of $36,800.00. Following the completion of the purchase, the chief financial officer now owns 25,513 shares in the company, valued at approximately $938,878.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lowell A. Seifter sold 3,230 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $36.96, for a total transaction of $119,380.80. Following the completion of the transaction, the director now directly owns 49,132 shares in the company, valued at $1,815,918.72. The disclosure for this sale can be found here. Insiders own 3.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NBTB. Keefe, Bruyette & Woods cut their price target on shares of NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Raymond James increased their price objective on shares of NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Finally, Piper Sandler cut their price objective on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.50.

Read Our Latest Stock Analysis on NBT Bancorp

NBT Bancorp Stock Performance

Shares of NASDAQ NBTB opened at $34.27 on Monday. The company’s fifty day moving average price is $39.19 and its 200 day moving average price is $36.02. NBT Bancorp Inc. has a 1 year low of $27.52 and a 1 year high of $43.77. The company has a market capitalization of $1.61 billion, a PE ratio of 12.88 and a beta of 0.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.86.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Thursday, February 29th. NBT Bancorp’s payout ratio is 48.12%.

NBT Bancorp Profile

(Free Report)

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; and residential real estate loans.

See Also

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Institutional Ownership by Quarter for NBT Bancorp (NASDAQ:NBTB)

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