Stonebridge Financial Group LLC Invests $551,000 in NBT Bancorp Inc. (NASDAQ:NBTB)

Stonebridge Financial Group LLC bought a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 11,529 shares of the bank’s stock, valued at approximately $551,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NBTB. Geode Capital Management LLC grew its holdings in NBT Bancorp by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after buying an additional 10,628 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of NBT Bancorp by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 585,636 shares of the bank’s stock worth $25,903,000 after acquiring an additional 7,294 shares during the last quarter. Eagle Asset Management Inc. grew its stake in NBT Bancorp by 76.3% during the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after acquiring an additional 163,952 shares in the last quarter. Ceredex Value Advisors LLC increased its holdings in NBT Bancorp by 40.9% in the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock valued at $13,680,000 after acquiring an additional 89,800 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in NBT Bancorp in the 4th quarter worth $12,007,000. Institutional investors own 58.46% of the company’s stock.

Insiders Place Their Bets

In related news, Director Heidi M. Hoeller bought 678 shares of the stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $48.45 per share, with a total value of $32,849.10. Following the completion of the purchase, the director now owns 6,437 shares of the company’s stock, valued at $311,872.65. This trade represents a 11.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Amy Wiles sold 500 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $51.31, for a total transaction of $25,655.00. Following the completion of the transaction, the executive vice president now owns 27,409 shares in the company, valued at $1,406,355.79. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,694 shares of company stock valued at $1,272,535 over the last three months. 3.32% of the stock is owned by company insiders.

NBT Bancorp Stock Up 1.7 %

Shares of NASDAQ:NBTB opened at $49.14 on Wednesday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 16.60 and a beta of 0.52. NBT Bancorp Inc. has a 12 month low of $32.79 and a 12 month high of $52.44. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $48.43 and a 200 day moving average price of $47.11.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same period in the previous year, the company earned $0.72 EPS. As a group, equities research analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.34 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 2.77%. NBT Bancorp’s dividend payout ratio is presently 45.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NBTB. StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Wednesday, January 29th. DA Davidson assumed coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective on the stock. Finally, Keefe, Bruyette & Woods increased their target price on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NBT Bancorp has an average rating of “Moderate Buy” and an average price target of $51.75.

NBT Bancorp Company Profile

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.