AlphaQuest LLC Increases Position in NBT Bancorp Inc. (NASDAQ:NBTB)

AlphaQuest LLC grew its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 601.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,125 shares of the bank’s stock after purchasing an additional 7,825 shares during the period. AlphaQuest LLC’s holdings in NBT Bancorp were worth $436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC purchased a new position in NBT Bancorp during the 4th quarter valued at about $87,000. Lisanti Capital Growth LLC boosted its stake in shares of NBT Bancorp by 53.0% in the fourth quarter. Lisanti Capital Growth LLC now owns 66,035 shares of the bank’s stock valued at $3,154,000 after purchasing an additional 22,865 shares during the period. Raymond James Financial Inc. acquired a new position in shares of NBT Bancorp in the fourth quarter valued at approximately $23,651,000. Victory Capital Management Inc. increased its stake in NBT Bancorp by 8.1% during the 4th quarter. Victory Capital Management Inc. now owns 666,562 shares of the bank’s stock worth $31,835,000 after buying an additional 50,152 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in NBT Bancorp by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 595,349 shares of the bank’s stock worth $28,434,000 after buying an additional 9,713 shares in the last quarter. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NBTB has been the subject of a number of recent research reports. DA Davidson initiated coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target for the company. Keefe, Bruyette & Woods raised their price target on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Stephens raised 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. Finally, StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.75.

NBT Bancorp Trading Down 0.4 %

Shares of NBT Bancorp stock opened at $42.51 on Friday. NBT Bancorp Inc. has a 1 year low of $32.79 and a 1 year high of $52.44. 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 business has a 50 day moving average price of $46.94 and a 200 day moving average price of $47.11. The company has a market capitalization of $2.01 billion, a P/E ratio of 14.36 and a beta of 0.48.

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

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.36 annualized dividend and a dividend yield of 3.20%. NBT Bancorp’s dividend payout ratio is presently 45.95%.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, Director Heidi M. Hoeller purchased 678 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 6,437 shares in the company, valued at approximately $311,872.65. This trade represents a 11.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sarah A. Halliday sold 5,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $48.45, for a total value of $242,250.00. Following the transaction, the executive vice president now owns 25,564 shares in the company, valued at approximately $1,238,575.80. This represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.32% of the company’s stock.

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.