New York State Common Retirement Fund lowered its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 19.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 30,450 shares of the bank’s stock after selling 7,509 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of NBT Bancorp worth $1,100,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NBTB. Vigilant Capital Management LLC purchased a new position in shares of NBT Bancorp in the 3rd quarter valued at about $33,000. Denali Advisors LLC purchased a new position in shares of NBT Bancorp in the 3rd quarter valued at about $47,000. SG Americas Securities LLC purchased a new position in shares of NBT Bancorp in the 3rd quarter valued at about $146,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of NBT Bancorp by 6.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,920 shares of the bank’s stock valued at $177,000 after acquiring an additional 279 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of NBT Bancorp in the 2nd quarter valued at about $207,000. Institutional investors and hedge funds own 54.27% of the company’s stock.
In related news, CFO Scott Allen Kingsley acquired 1,265 shares of the firm’s stock in a transaction on Friday, November 26th. The stock was bought at an average cost of $35.57 per share, with a total value of $44,996.05. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 3.72% of the stock is currently owned by company insiders.
NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 25th. The bank reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $118.00 million for the quarter, compared to the consensus estimate of $120.37 million. NBT Bancorp had a return on equity of 12.62% and a net margin of 30.86%. During the same quarter last year, the business posted $0.80 EPS. As a group, sell-side analysts anticipate that NBT Bancorp Inc. will post 3.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.66%. NBT Bancorp’s payout ratio is 32.28%.
Separately, Zacks Investment Research upgraded NBT Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Wednesday, December 29th.
NBT Bancorp Company Profile
NBT Bancorp, Inc is a holding company, which engages in the provision of financial solutions. It offers commercial banking, retail banking, and wealth management, as well as trust and investment services. The company was founded in 1986 and is headquartered in Norwich, NY.
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