Sippican Capital Advisors lowered its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 7.0% during the second quarter, Holdings Channel reports. The institutional investor owned 8,000 shares of the company’s stock after selling 600 shares during the period. Sippican Capital Advisors’ holdings in NBT Bancorp were worth $229,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. 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 valued at $31,913,000 after buying an additional 8,379 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of NBT Bancorp by 5.9% in the first quarter. TIAA CREF Investment Management LLC now owns 152,770 shares of the company’s stock valued at $4,117,000 after buying an additional 8,479 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of NBT Bancorp by 3.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 14,416 shares of the company’s stock valued at $389,000 after buying an additional 475 shares in the last quarter. BlackRock Group LTD boosted its stake in shares of NBT Bancorp by 3.8% in the first quarter. BlackRock Group LTD now owns 68,224 shares of the company’s stock valued at $1,839,000 after buying an additional 2,517 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of NBT Bancorp by 25.2% in the first quarter. Legal & General Group Plc now owns 11,859 shares of the company’s stock valued at $321,000 after buying an additional 2,386 shares in the last quarter. Hedge funds and other institutional investors own 46.02% of the company’s stock.
NBT Bancorp Inc. (NASDAQ:NBTB) traded down 0.79% on Friday, hitting $32.76. 84,826 shares of the company traded hands. The firm’s 50 day moving average price is $31.83 and its 200 day moving average price is $29.11. The firm has a market capitalization of $1.41 billion, a PE ratio of 18.51 and a beta of 0.94. NBT Bancorp Inc. has a 1-year low of $23.81 and a 1-year high of $33.04.
NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, July 25th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. The business had revenue of $95.39 million for the quarter. NBT Bancorp had a return on equity of 8.79% and a net margin of 19.38%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. Equities research analysts predict that NBT Bancorp Inc. will post $1.80 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.81%. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is presently 51.98%.
Several equities research analysts have recently weighed in on NBTB shares. Zacks Investment Research upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 27th. Keefe, Bruyette & Woods upped their price objective on shares of NBT Bancorp from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Friday, July 29th.
In other NBT Bancorp news, CEO Martin A. Dietrich sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $29.78, for a total value of $744,500.00. Following the transaction, the chief executive officer now directly owns 187,815 shares of the company’s stock, valued at $5,593,130.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey M. Levy sold 31,000 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $29.83, for a total value of $924,730.00. Following the completion of the transaction, the executive vice president now directly owns 57,139 shares in the company, valued at $1,704,456.37. The disclosure for this sale can be found here. 2.83% of the stock is owned by company insiders.
About NBT Bancorp
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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