NBT Bancorp Inc. $NBTB Position Raised by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 29.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 560,259 shares of the bank’s stock after purchasing an additional 128,316 shares during the period. The Manufacturers Life Insurance Company’s holdings in NBT Bancorp were worth $23,856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of NBT Bancorp by 1,645.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after purchasing an additional 609 shares during the period. Larson Financial Group LLC lifted its holdings in shares of NBT Bancorp by 13,316.7% in the third quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after buying an additional 799 shares during the period. Bessemer Group Inc. lifted its holdings in shares of NBT Bancorp by 63.8% in the first quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock valued at $35,000 after buying an additional 324 shares during the period. Global Retirement Partners LLC boosted its stake in NBT Bancorp by 62.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock valued at $43,000 after buying an additional 399 shares in the last quarter. Finally, Quadrant Capital Group LLC bought a new position in NBT Bancorp during the fourth quarter valued at about $64,000. 58.46% of the stock is owned by institutional investors.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, EVP Ruth H. Mahoney sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $54.30, for a total value of $244,350.00. Following the completion of the transaction, the executive vice president directly owned 11,928 shares in the company, valued at $647,690.40. This trade represents a 27.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sarah A. Halliday sold 9,000 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $54.04, for a total transaction of $486,360.00. Following the completion of the transaction, the executive vice president directly owned 22,054 shares in the company, valued at approximately $1,191,798.16. This trade represents a 28.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 20,600 shares of company stock valued at $1,064,573. 2.99% of the stock is currently owned by corporate insiders.

NBT Bancorp Stock Down 0.5%

Shares of NBT Bancorp stock opened at $52.65 on Friday. NBT Bancorp Inc. has a 12-month low of $39.19 and a 12-month high of $54.50. The firm has a market capitalization of $2.74 billion, a PE ratio of 12.87 and a beta of 0.48. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $49.14 and its 200-day moving average is $45.77.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, July 27th. The bank reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). The company had revenue of $186.69 million during the quarter, compared to analyst estimates of $188.81 million. NBT Bancorp had a net margin of 22.58% and a return on equity of 11.27%. Equities analysts anticipate that NBT Bancorp Inc. will post 4.15 earnings per share for the current year.

NBT Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.40 per share. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 1st. NBT Bancorp’s payout ratio is currently 36.19%.

Wall Street Analyst Weigh In

NBTB has been the topic of several research reports. Hovde Group dropped their price target on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a research report on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of NBT Bancorp in a research report on Tuesday, July 21st. Piper Sandler lifted their price objective on shares of NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. DA Davidson boosted their target price on shares of NBT Bancorp from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stephens lowered shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $52.00 to $55.00 in a research note on Thursday. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $54.12.

Key Stories Impacting NBT Bancorp

Here are the key news stories impacting NBT Bancorp this week:

• Positive Sentiment: NBT Bancorp raised its quarterly dividend to $0.40 per share from $0.37, equating to an annualized payout of $1.60 and an approximately 3.0% yield. The increase reinforces the stock’s appeal to income-oriented investors. NBT Bancorp Hits New 12-Month High After Dividend Announcement
• Positive Sentiment: Analyst sentiment was mixed but included bullish target increases: DA Davidson raised its price objective to $59 and retained a “buy” rating, while Piper Sandler previously lifted its target to $56 with an “overweight” rating. Analysts Have Conflicting Sentiments on NBT Bancorp
• Neutral Sentiment: Institutional ownership changes were mixed. Bank of New York Mellon reduced its stake by 2.2%, while Fifth Third Bancorp substantially increased its holding from a very small base. Because the filings reflect earlier-quarter activity, they provide limited insight into current trading conviction. Bank of New York Mellon Holdings
• Negative Sentiment: Stephens downgraded NBTB from “overweight” to “equal weight.” Although it increased its target to $55 from $52, the rating change suggests the analyst sees limited additional upside after the stock’s recent advance.
• Negative Sentiment: EVPs Sarah Halliday and Ruth Mahoney sold a combined 13,500 shares for approximately $730,710. The transactions reduced their individual holdings by roughly 29% and 27%, respectively, potentially weighing on sentiment even though the sales may reflect personal financial planning. Sarah Halliday SEC Filing Ruth Mahoney SEC Filing
• Negative Sentiment: The bank’s latest quarterly results narrowly missed expectations, with earnings of $1.01 per share versus $1.02 expected and revenue of $186.69 million versus $188.81 million forecast. The modest miss, combined with a consensus “hold” rating and an average target near the current price, supports the view that NBTB may be fully valued. NBT Bancorp Looks Fully Valued

About NBT Bancorp

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.