Resources Management Corp CT ADV Sells 300 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Resources Management Corp CT ADV cut its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 1.8% in the third quarter, Holdings Channel reports. The institutional investor owned 16,200 shares of the bank’s stock after selling 300 shares during the period. Resources Management Corp CT ADV’s holdings in NBT Bancorp were worth $717,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NBTB. Louisiana State Employees Retirement System lifted its position in shares of NBT Bancorp by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock worth $915,000 after purchasing an additional 400 shares during the last quarter. Ceredex Value Advisors LLC lifted its position in shares of NBT Bancorp by 2.6% during the second quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock worth $8,473,000 after purchasing an additional 5,500 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of NBT Bancorp by 36.7% during the second quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock worth $24,307,000 after purchasing an additional 169,180 shares during the last quarter. IFG Advisory LLC bought a new stake in shares of NBT Bancorp during the second quarter worth $502,000. Finally, Union Savings Bank lifted its position in shares of NBT Bancorp by 45.1% during the second quarter. Union Savings Bank now owns 7,026 shares of the bank’s stock worth $271,000 after purchasing an additional 2,183 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors.

NBT Bancorp Price Performance

NBTB opened at $50.97 on Wednesday. The business’s 50-day moving average is $47.14 and its two-hundred day moving average is $44.25. NBT Bancorp Inc. has a 1 year low of $32.79 and a 1 year high of $52.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $2.40 billion, a PE ratio of 17.95 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The company had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Research analysts anticipate that NBT Bancorp Inc. will post 2.94 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.67%. NBT Bancorp’s payout ratio is 47.89%.

Insider Transactions at NBT Bancorp

In related news, Director V Daniel Robinson II sold 50,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.58, for a total value of $2,229,000.00. Following the transaction, the director now owns 417,558 shares in the company, valued at approximately $18,614,735.64. This represents a 10.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Amy Wiles sold 556 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $25,020.00. Following the completion of the transaction, the executive vice president now owns 28,909 shares in the company, valued at approximately $1,300,905. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,556 shares of company stock worth $7,658,290. Insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NBTB. Stephens restated an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a report on Tuesday, September 10th. Keefe, Bruyette & Woods lifted their price objective on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, NBT Bancorp presently has an average rating of “Hold” and an average target price of $45.80.

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 indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.