SG Americas Securities LLC purchased a new position in NBT Bancorp Inc. (NASDAQ:NBTB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,979 shares of the bank’s stock, valued at approximately $109,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of NBTB. Advisory Services Network LLC increased its holdings in NBT Bancorp by 316.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,546 shares of the bank’s stock worth $58,000 after acquiring an additional 1,175 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in NBT Bancorp during the 2nd quarter worth $207,000. Bank of Montreal Can boosted its stake in NBT Bancorp by 104.3% during the 2nd quarter. Bank of Montreal Can now owns 6,921 shares of the bank’s stock worth $259,000 after purchasing an additional 3,533 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in NBT Bancorp during the 2nd quarter worth $262,000. Finally, Opes Wealth Management LLC acquired a new stake in NBT Bancorp during the 2nd quarter worth $321,000. 55.21% of the stock is owned by institutional investors.
Shares of NBTB stock opened at $39.64 on Tuesday. The company’s 50-day moving average price is $39.26 and its 200-day moving average price is $37.32. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 15.48 and a beta of 0.85. NBT Bancorp Inc. has a twelve month low of $30.36 and a twelve month high of $40.93.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.27 per share. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.08 annualized dividend and a dividend yield of 2.72%. NBT Bancorp’s payout ratio is presently 42.19%.
NBTB has been the topic of several recent research reports. Piper Jaffray Companies set a $38.00 target price on shares of NBT Bancorp and gave the stock a “hold” rating in a research note on Wednesday, August 7th. BidaskClub raised shares of NBT Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 17th.
In other news, Director Lowell A. Seifter sold 4,131 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $39.46, for a total transaction of $163,009.26. Following the transaction, the director now owns 43,014 shares of the company’s stock, valued at approximately $1,697,332.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.29% of the company’s stock.
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 commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, direct loans, mortgages, business banking loans, and commercial loans; and residential real estate loans, as well as development loans.
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