Hsbc Holdings PLC bought a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,771 shares of the bank’s stock, valued at approximately $729,000. Hsbc Holdings PLC owned 0.05% of NBT Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently modified their holdings of the stock. State of Tennessee Treasury Department grew its holdings in NBT Bancorp by 42.9% during the 3rd quarter. State of Tennessee Treasury Department now owns 27,462 shares of the bank’s stock worth $737,000 after acquiring an additional 8,247 shares in the last quarter. Stillwater Capital Advisors LLC acquired a new position in shares of NBT Bancorp during the fourth quarter worth $1,283,000. Credit Suisse AG increased its holdings in NBT Bancorp by 25.7% in the fourth quarter. Credit Suisse AG now owns 83,500 shares of the bank’s stock valued at $2,680,000 after buying an additional 17,070 shares during the last quarter. ProShare Advisors LLC purchased a new position in NBT Bancorp in the fourth quarter valued at $329,000. Finally, Paloma Partners Management Co acquired a new stake in NBT Bancorp in the third quarter valued at $364,000. 53.95% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded NBT Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Wednesday, March 31st.
NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Tuesday, January 26th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.69 by $0.16. The company had revenue of $118.22 million for the quarter, compared to analyst estimates of $115.10 million. NBT Bancorp had a return on equity of 8.73% and a net margin of 19.96%. As a group, sell-side analysts forecast that NBT Bancorp Inc. will post 2.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Monday, March 1st were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 26th. This represents a $1.08 dividend on an annualized basis and a yield of 2.75%. NBT Bancorp’s payout ratio is currently 39.42%.
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, mortgages, business banking loans, and commercial loans; and residential real estate loans.
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