United Capital Financial Advisers LLC reduced its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,628 shares of the bank’s stock after selling 1,000 shares during the quarter. United Capital Financial Advisers LLC owned approximately 0.10% of NBT Bancorp worth $1,599,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Northern Trust Corp raised its position in NBT Bancorp by 1.7% during the second quarter. Northern Trust Corp now owns 1,097,925 shares of the bank’s stock valued at $41,183,000 after acquiring an additional 18,382 shares in the last quarter. Geode Capital Management LLC raised its position in NBT Bancorp by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 522,568 shares of the bank’s stock valued at $18,075,000 after acquiring an additional 37,002 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in NBT Bancorp by 0.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 330,802 shares of the bank’s stock valued at $12,409,000 after acquiring an additional 2,336 shares in the last quarter. Walthausen & Co. LLC raised its position in NBT Bancorp by 16.8% during the first quarter. Walthausen & Co. LLC now owns 212,120 shares of the bank’s stock valued at $7,638,000 after acquiring an additional 30,520 shares in the last quarter. Finally, Rhumbline Advisers raised its position in NBT Bancorp by 0.8% during the first quarter. Rhumbline Advisers now owns 128,903 shares of the bank’s stock valued at $4,642,000 after acquiring an additional 1,068 shares in the last quarter. Institutional investors and hedge funds own 54.44% of the company’s stock.
NBTB has been the topic of several recent research reports. Boenning Scattergood reaffirmed a “neutral” rating on shares of NBT Bancorp in a research report on Wednesday, July 24th. BidaskClub raised shares of NBT Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Finally, Piper Jaffray Companies set a $38.00 price objective on shares of NBT Bancorp and gave the company a “hold” rating in a research report on Wednesday, August 7th.
NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. NBT Bancorp had a net margin of 24.08% and a return on equity of 11.47%. The company had revenue of $112.87 million for the quarter, compared to analyst estimates of $112.65 million. During the same quarter last year, the firm posted $0.64 earnings per share. On average, analysts forecast that NBT Bancorp Inc. will post 2.63 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Thursday, August 29th. NBT Bancorp’s dividend payout ratio (DPR) is currently 40.63%.
About NBT Bancorp
NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, direct loans, mortgages, business banking loans, and commercial loans; and residential real estate loans, as well as development loans.
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