Community Bank N.A. Cuts Stock Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Community Bank N.A. cut its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 3.9% in the third quarter, HoldingsChannel.com reports. The fund owned 19,695 shares of the bank’s stock after selling 800 shares during the period. Community Bank N.A.’s holdings in NBT Bancorp were worth $871,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after buying an additional 252 shares in the last quarter. US Bancorp DE acquired a new stake in shares of NBT Bancorp in the third quarter worth approximately $57,000. Quest Partners LLC purchased a new stake in shares of NBT Bancorp during the third quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in NBT Bancorp in the 3rd quarter valued at $103,000. Finally, Focused Wealth Management Inc purchased a new position in NBT Bancorp in the 3rd quarter valued at $217,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director Timothy E. Delaney sold 40,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the completion of the transaction, the director now owns 38,853 shares of the company’s stock, valued at $1,999,763.91. This trade represents a 50.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jack H. Webb sold 10,000 shares of NBT Bancorp stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $50.06, for a total transaction of $500,600.00. Following the sale, the director now owns 45,018 shares of the company’s stock, valued at approximately $2,253,601.08. This represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,556 shares of company stock worth $8,540,290 over the last quarter. 3.32% of the stock is currently owned by company insiders.

NBT Bancorp Trading Up 0.2 %

Shares of NBTB stock opened at $49.86 on Tuesday. NBT Bancorp Inc. has a twelve month low of $32.79 and a twelve month high of $52.31. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 17.56 and a beta of 0.52. The company’s 50-day moving average price is $46.40 and its 200-day moving average price is $43.74. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The business had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same quarter in the prior year, the company posted $0.84 EPS. As a group, equities analysts predict that NBT Bancorp Inc. will post 2.91 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.34 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.73%. NBT Bancorp’s dividend payout ratio is currently 47.89%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NBTB shares. Stephens reiterated an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $42.60.

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.