Pinebridge Investments L.P. reduced its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 10.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,463 shares of the bank’s stock after selling 2,887 shares during the period. Pinebridge Investments L.P.’s holdings in NBT Bancorp were worth $937,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NBTB. Schwab Charles Investment Management Inc. raised its stake in shares of NBT Bancorp by 24.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 272,144 shares of the bank’s stock valued at $9,994,000 after acquiring an additional 53,832 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of NBT Bancorp by 29.3% in the third quarter. JPMorgan Chase & Co. now owns 98,734 shares of the bank’s stock valued at $3,633,000 after acquiring an additional 22,362 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of NBT Bancorp by 39.6% in the third quarter. Wells Fargo & Company MN now owns 61,329 shares of the bank’s stock valued at $2,252,000 after acquiring an additional 17,399 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of NBT Bancorp by 530.8% in the third quarter. GSA Capital Partners LLP now owns 37,142 shares of the bank’s stock valued at $1,364,000 after acquiring an additional 31,254 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of NBT Bancorp by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,017,225 shares of the bank’s stock valued at $74,073,000 after acquiring an additional 42,291 shares in the last quarter. Institutional investors and hedge funds own 50.67% of the company’s stock.
NBTB has been the topic of several analyst reports. Boenning Scattergood reiterated a “hold” rating on shares of NBT Bancorp in a research note on Wednesday, January 24th. Zacks Investment Research upgraded NBT Bancorp from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research note on Wednesday, January 3rd. BidaskClub upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $41.50 price target on shares of NBT Bancorp in a research note on Tuesday. Finally, Sandler O’Neill set a $38.00 price target on NBT Bancorp and gave the company a “hold” rating in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. NBT Bancorp currently has a consensus rating of “Hold” and a consensus target price of $39.13.
Shares of NBT Bancorp Inc. (NASDAQ:NBTB) opened at $35.92 on Wednesday. NBT Bancorp Inc. has a 52 week low of $31.28 and a 52 week high of $41.82. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1,599.14, a price-to-earnings ratio of 18.65 and a beta of 0.86.
NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, January 22nd. The bank reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.03). NBT Bancorp had a net margin of 19.07% and a return on equity of 9.16%. The business had revenue of $104.92 million during the quarter, compared to analyst estimates of $103.52 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. equities research analysts predict that NBT Bancorp Inc. will post 2.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Wednesday, February 28th. NBT Bancorp’s dividend payout ratio is presently 49.20%.
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NBT Bancorp 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.
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