Eagle Asset Management Inc. Has $16.76 Million Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

Eagle Asset Management Inc. increased its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 76.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 378,898 shares of the bank’s stock after acquiring an additional 163,952 shares during the quarter. Eagle Asset Management Inc.’s holdings in NBT Bancorp were worth $16,759,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NBTB. SG Americas Securities LLC acquired a new stake in NBT Bancorp during the 1st quarter worth $178,000. ProShare Advisors LLC raised its stake in NBT Bancorp by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 9,268 shares of the bank’s stock worth $340,000 after buying an additional 635 shares during the period. State Board of Administration of Florida Retirement System raised its stake in NBT Bancorp by 150.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank’s stock worth $1,104,000 after buying an additional 19,661 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in NBT Bancorp by 8.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 46,791 shares of the bank’s stock worth $1,715,000 after buying an additional 3,661 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in NBT Bancorp by 4.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,067 shares of the bank’s stock worth $1,470,000 after buying an additional 1,680 shares during the period. Institutional investors and hedge funds own 58.46% of the company’s stock.

Insider Activity

In related news, Director V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the transaction, the director now owns 517,558 shares in the company, valued at approximately $22,824,307.80. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Amy Wiles sold 556 shares of NBT Bancorp stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the transaction, the executive vice president now owns 28,909 shares of the company’s stock, valued at $1,300,905. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,556 shares of company stock worth $8,039,690 in the last quarter. Corporate insiders own 3.32% of the company’s stock.

NBT Bancorp Price Performance

NBTB stock opened at $50.45 on Friday. The stock has a 50-day moving average price of $45.70 and a two-hundred day moving average price of $43.03. The stock has a market cap of $2.38 billion, a PE ratio of 17.76 and a beta of 0.49. 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 Inc. has a 1 year low of $32.79 and a 1 year high of $51.93.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data 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 company had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same quarter last year, the company earned $0.84 EPS. Equities analysts forecast that NBT Bancorp Inc. will post 2.91 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s payout ratio is 47.89%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NBTB shares. Stephens reiterated an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.