BlackRock Advisors LLC lowered its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 10.2% during the second quarter, Holdings Channel reports. The fund owned 272,372 shares of the company’s stock after selling 30,944 shares during the period. BlackRock Advisors LLC owned approximately 0.63% of NBT Bancorp worth $7,798,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of NBTB. Vanguard Group Inc. increased its position in NBT Bancorp by 6.4% in the second quarter. Vanguard Group Inc. now owns 3,583,786 shares of the company’s stock valued at $102,604,000 after buying an additional 215,048 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NBT Bancorp by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,844,657 shares of the company’s stock worth $52,811,000 after buying an additional 92,560 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of NBT Bancorp by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,184,153 shares of the company’s stock worth $31,913,000 after buying an additional 8,379 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NBT Bancorp by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 571,165 shares of the company’s stock worth $16,352,000 after buying an additional 5,420 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of NBT Bancorp by 2.0% in the second quarter. Principal Financial Group Inc. now owns 311,316 shares of the company’s stock worth $8,913,000 after buying an additional 5,995 shares during the last quarter. Institutional investors and hedge funds own 46.02% of the company’s stock.
NBT Bancorp Inc. (NASDAQ:NBTB) opened at 33.26 on Wednesday. The stock has a 50 day moving average of $32.48 and a 200-day moving average of $29.65. The company has a market cap of $1.43 billion, a PE ratio of 18.79 and a beta of 0.91. NBT Bancorp Inc. has a 12-month low of $23.81 and a 12-month high of $33.94.
NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, July 25th. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. The company earned $95.39 million during the quarter. NBT Bancorp had a return on equity of 8.79% and a net margin of 19.38%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. On average, equities research analysts anticipate that NBT Bancorp Inc. will post $1.80 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $0.23 dividend. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.77%. NBT Bancorp’s payout ratio is presently 51.98%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Keefe, Bruyette & Woods boosted their target price on shares of NBT Bancorp from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Friday, July 29th.
In other news, EVP Jeffrey M. Levy sold 31,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $29.83, for a total transaction of $924,730.00. Following the transaction, the executive vice president now directly owns 57,139 shares of the company’s stock, valued at $1,704,456.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Martin A. Dietrich sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $32.67, for a total value of $816,750.00. Following the transaction, the chief executive officer now directly owns 191,345 shares in the company, valued at $6,251,241.15. The disclosure for this sale can be found here. 2.83% of the stock is owned by corporate insiders.
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 other subsidiaries, which provide 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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