The Manufacturers Life Insurance Company Has $12.32 Million Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

The Manufacturers Life Insurance Company raised its stake in NBT Bancorp Inc. (NASDAQ:NBTBFree Report) by 1.5% in the 4th quarter, HoldingsChannel reports. The fund owned 293,856 shares of the bank’s stock after buying an additional 4,225 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NBT Bancorp were worth $12,316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in NBT Bancorp by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,209 shares of the bank’s stock valued at $22,221,000 after acquiring an additional 25,528 shares in the last quarter. Northern Trust Corp boosted its stake in shares of NBT Bancorp by 5.7% in the 3rd quarter. Northern Trust Corp now owns 741,141 shares of the bank’s stock valued at $23,487,000 after purchasing an additional 39,912 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of NBT Bancorp in the 4th quarter valued at about $11,434,000. Louisiana State Employees Retirement System bought a new position in shares of NBT Bancorp in the 4th quarter valued at about $989,000. Finally, Graham Capital Management L.P. bought a new position in shares of NBT Bancorp in the 3rd quarter valued at about $676,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analyst Ratings Changes

NBTB has been the topic of several recent research reports. Janney Montgomery Scott raised shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Thursday, March 21st. Keefe, Bruyette & Woods reduced their target price on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Finally, Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of NBT Bancorp in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NBT Bancorp has an average rating of “Moderate Buy” and a consensus target price of $41.20.

View Our Latest Stock Analysis on NBTB

NBT Bancorp Trading Down 2.3 %

NBTB opened at $35.07 on Tuesday. The company’s 50 day moving average is $36.09 and its 200-day moving average is $36.86. The company has a market cap of $1.65 billion, a P/E ratio of 13.54 and a beta of 0.52. NBT Bancorp Inc. has a 1-year low of $30.31 and a 1-year high of $43.77. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTBGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. The firm had revenue of $192.33 million during the quarter, compared to analyst estimates of $135.01 million. During the same quarter last year, the business earned $0.88 EPS. Equities research analysts predict that NBT Bancorp Inc. will post 2.84 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Friday, May 31st. NBT Bancorp’s payout ratio is 49.42%.

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 indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.

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

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