Great Lakes Advisors LLC Acquires Shares of 89,918 NBT Bancorp Inc. (NASDAQ:NBTB)

Great Lakes Advisors LLC acquired a new stake in NBT Bancorp Inc. (NASDAQ:NBTB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 89,918 shares of the bank’s stock, valued at approximately $4,294,000. Great Lakes Advisors LLC owned approximately 0.19% of NBT Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE purchased a new position in NBT Bancorp in the third quarter valued at $57,000. Quest Partners LLC purchased a new position in NBT Bancorp in the third quarter valued at $57,000. GAMMA Investing LLC increased its holdings in NBT Bancorp by 66.5% in the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock valued at $62,000 after buying an additional 517 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in NBT Bancorp in the fourth quarter valued at $87,000. Finally, Crews Bank & Trust purchased a new position in NBT Bancorp in the fourth quarter valued at $98,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on NBTB shares. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a research note on Wednesday, January 29th. StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson started coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

NBT Bancorp Stock Up 1.8 %

NBTB stock opened at $43.26 on Friday. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 14.61 and a beta of 0.48. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 12 month low of $32.79 and a 12 month high of $52.44. The firm has a 50-day moving average of $46.85 and a two-hundred day moving average of $47.07.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter last year, the company posted $0.72 earnings per share. As a group, analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.34 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 3.14%. NBT Bancorp’s payout ratio is 45.95%.

Insider Buying and Selling at NBT Bancorp

In other news, EVP Sarah A. Halliday sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction of $242,250.00. Following the completion of the sale, the executive vice president now owns 25,564 shares in the company, valued at $1,238,575.80. This trade represents a 16.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Heidi M. Hoeller purchased 678 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $48.45 per share, with a total value of $32,849.10. Following the acquisition, the director now directly owns 6,437 shares in the company, valued at approximately $311,872.65. The trade was a 11.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.32% of the stock is owned by insiders.

About NBT Bancorp

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.