Asset Dedication LLC Sells 1,504 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Asset Dedication LLC cut its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 18.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,640 shares of the bank’s stock after selling 1,504 shares during the quarter. Asset Dedication LLC’s holdings in NBT Bancorp were worth $317,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position in NBT Bancorp by 47.9% during the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after acquiring an additional 252 shares during the last quarter. US Bancorp DE purchased a new stake in shares of NBT Bancorp in the 3rd quarter valued at $57,000. Quest Partners LLC bought a new position in shares of NBT Bancorp during the 3rd quarter valued at $57,000. KBC Group NV raised its position in NBT Bancorp by 47.5% in the 4th quarter. KBC Group NV now owns 2,152 shares of the bank’s stock worth $103,000 after purchasing an additional 693 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in NBT Bancorp in the third quarter worth $103,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Price Performance

NBTB opened at $47.02 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $2.22 billion, a PE ratio of 16.56 and a beta of 0.53. The stock’s 50 day moving average price is $48.77 and its 200-day moving average price is $47.01. NBT Bancorp Inc. has a 52-week low of $32.79 and a 52-week high of $52.44.

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 17.37% and a return on equity of 9.36%. During the same quarter in the previous year, the company earned $0.72 EPS. On average, equities research analysts predict that NBT Bancorp Inc. will post 2.95 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.36 annualized dividend and a yield of 2.89%. NBT Bancorp’s dividend payout ratio (DPR) is presently 45.95%.

Insider Buying and Selling at NBT Bancorp

In related news, Director Timothy E. Delaney sold 40,000 shares of NBT Bancorp 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 directly owns 38,853 shares of the company’s stock, valued at $1,999,763.91. This trade represents a 50.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John H. Watt, Jr. sold 10,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $49.40, for a total transaction of $494,000.00. Following the sale, the director now directly owns 125,301 shares in the company, valued at $6,189,869.40. The trade was a 7.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,694 shares of company stock valued at $3,139,185. 3.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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