Ameriprise Financial Inc. Has $8.97 Million Stake in NBT Bancorp Inc. (NBTB)

Ameriprise Financial Inc. raised its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 241,870 shares of the bank’s stock after buying an additional 13,761 shares during the period. Ameriprise Financial Inc.’s holdings in NBT Bancorp were worth $8,966,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NBTB. Norges Bank acquired a new stake in NBT Bancorp during the fourth quarter worth about $20,182,000. Bank of New York Mellon Corp raised its stake in NBT Bancorp by 28.9% in the first quarter. Bank of New York Mellon Corp now owns 796,715 shares of the bank’s stock worth $29,534,000 after buying an additional 178,423 shares during the last quarter. State Street Corp raised its stake in NBT Bancorp by 13.9% in the fourth quarter. State Street Corp now owns 1,092,535 shares of the bank’s stock worth $45,754,000 after buying an additional 133,238 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in NBT Bancorp during the first quarter worth about $950,000. Finally, Russell Investments Group Ltd. raised its stake in NBT Bancorp by 254.5% in the first quarter. Russell Investments Group Ltd. now owns 20,208 shares of the bank’s stock worth $749,000 after buying an additional 14,508 shares during the last quarter. 50.31% of the stock is owned by institutional investors and hedge funds.

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

NBT Bancorp Inc. (NBTB) opened at 37.33 on Tuesday. NBT Bancorp Inc. has a 12 month low of $26.67 and a 12 month high of $42.56. The firm has a market cap of $1.62 billion, a PE ratio of 20.40 and a beta of 0.92. The stock’s 50 day moving average is $37.22 and its 200 day moving average is $39.22.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, April 24th. The bank reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The firm had revenue of $97.20 million during the quarter, compared to analysts’ expectations of $97.54 million. NBT Bancorp had a return on equity of 8.75% and a net margin of 19.58%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 EPS. On average, equities analysts forecast that NBT Bancorp Inc. will post $1.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Tuesday, May 30th. NBT Bancorp’s dividend payout ratio is presently 50.27%.

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NBTB has been the subject of a number of research reports. Zacks Investment Research raised shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Thursday, April 27th. Piper Jaffray Companies raised shares of NBT Bancorp from an “underweight” rating to a “neutral” rating and set a $35.50 price target on the stock in a research report on Thursday, June 8th. Finally, BidaskClub raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $34.75.

In other NBT Bancorp news, Director John C. Mitchell sold 1,438 shares of NBT Bancorp stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $35.48, for a total value of $51,020.24. Following the completion of the sale, the director now owns 32,781 shares in the company, valued at approximately $1,163,069.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Mitchell sold 1,570 shares of NBT Bancorp stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $36.27, for a total value of $56,943.90. Following the completion of the sale, the director now owns 34,219 shares of the company’s stock, valued at approximately $1,241,123.13. The disclosure for this sale can be found here. Company insiders own 2.83% of the company’s stock.

NBT Bancorp Company Profile

NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:NBTB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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