NBT Bancorp Inc. (NASDAQ:NBTB) Stock Holdings Boosted by GAMMA Investing LLC

GAMMA Investing LLC raised its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 4,554.4% in the first quarter, HoldingsChannel.com reports. The firm owned 60,275 shares of the bank’s stock after buying an additional 58,980 shares during the period. GAMMA Investing LLC’s holdings in NBT Bancorp were worth $2,586,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Leigh Baldwin & CO. LLC purchased a new stake in shares of NBT Bancorp in the fourth quarter valued at $52,606,000. Silvercrest Asset Management Group LLC acquired a new position in NBT Bancorp during the fourth quarter worth $38,978,000. Raymond James Financial Inc. acquired a new position in NBT Bancorp during the fourth quarter worth $23,651,000. JPMorgan Chase & Co. increased its position in NBT Bancorp by 307.0% during the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank’s stock worth $17,998,000 after buying an additional 284,267 shares during the last quarter. Finally, Norges Bank acquired a new position in NBT Bancorp during the fourth quarter worth $6,736,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Insider Transactions at NBT Bancorp

In related news, Director Heidi M. Hoeller acquired 2,588 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average price of $42.88 per share, with a total value of $110,973.44. Following the purchase, the director now directly owns 11,578 shares in the company, valued at approximately $496,464.64. This trade represents a 28.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John H. Watt, Jr. sold 7,869 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $42.02, for a total transaction of $330,655.38. Following the transaction, the director now directly owns 116,027 shares of the company’s stock, valued at $4,875,454.54. The trade was a 6.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 5,491 shares of company stock valued at $235,674. Company insiders own 3.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NBTB shares. Hovde Group started coverage on NBT Bancorp in a research report on Friday, March 21st. They issued a “market perform” rating and a $50.00 price target on the stock. Wall Street Zen downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Finally, DA Davidson lowered their price target on NBT Bancorp from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.75.

NBT Bancorp Stock Down 0.2%

NBT Bancorp stock opened at $41.98 on Friday. The firm has a market capitalization of $1.98 billion, a PE ratio of 14.18 and a beta of 0.58. The company’s 50-day moving average is $41.81 and its 200-day moving average is $45.18. NBT Bancorp Inc. has a fifty-two week low of $35.20 and a fifty-two week high of $52.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. The business had revenue of $155.31 million for the quarter, compared to analyst estimates of $151.00 million. During the same quarter in the prior year, the business earned $0.68 EPS. Sell-side analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, June 2nd. NBT Bancorp’s dividend payout ratio (DPR) is presently 45.03%.

NBT Bancorp Profile

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.