Louisiana State Employees Retirement System held its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,700 shares of the bank’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in NBT Bancorp were worth $654,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Bank of Montreal Can raised its stake in NBT Bancorp by 26.0% in the first quarter. Bank of Montreal Can now owns 2,931 shares of the bank’s stock valued at $109,000 after buying an additional 604 shares during the period. Ameritas Investment Partners Inc. bought a new stake in NBT Bancorp during the first quarter worth about $136,000. State of Alaska Department of Revenue raised its stake in NBT Bancorp by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 4,790 shares of the bank’s stock worth $177,000 after buying an additional 130 shares during the period. Trexquant Investment LP bought a new stake in NBT Bancorp during the first quarter worth about $218,000. Finally, Russell Investments Group Ltd. bought a new stake in NBT Bancorp during the fourth quarter worth about $239,000. Hedge funds and other institutional investors own 49.87% of the company’s stock.
NBT Bancorp Inc. (NBTB) traded up 1.40% during mid-day trading on Friday, hitting $33.33. The stock had a trading volume of 83,809 shares. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 17.92 and a beta of 0.88. NBT Bancorp Inc. has a one year low of $30.98 and a one year high of $42.56. The company has a 50 day moving average price of $35.97 and a 200-day moving average price of $37.69.
NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, July 24th. The bank reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. NBT Bancorp had a net margin of 19.68% and a return on equity of 8.81%. The company had revenue of $99.93 million for the quarter, compared to analyst estimates of $100.91 million. During the same quarter in the prior year, the business posted $0.46 EPS. Equities analysts expect that NBT Bancorp Inc. will post $1.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.80%. NBT Bancorp’s dividend payout ratio (DPR) is 49.46%.
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A number of research firms have recently issued reports on NBTB. ValuEngine lowered NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded NBT Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, July 28th. Piper Jaffray Companies reiterated a “hold” rating and issued a $35.50 price objective on shares of NBT Bancorp in a report on Friday, July 14th. BidaskClub cut NBT Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, Boenning Scattergood upgraded NBT Bancorp from an “under perform” rating to a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $36.75.
In other news, Director John C. Mitchell sold 1,438 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $35.48, for a total transaction of $51,020.24. Following the transaction, the director now owns 32,781 shares in the company, valued at approximately $1,163,069.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John C. Mitchell sold 1,570 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $36.27, for a total transaction of $56,943.90. Following the transaction, the director now owns 34,219 shares in the company, valued at approximately $1,241,123.13. The disclosure for this sale can be found here. Corporate 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.
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