Crews Bank & Trust Trims Stake in NBT Bancorp Inc. $NBTB

Crews Bank & Trust cut its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 28.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,002 shares of the bank’s stock after selling 400 shares during the period. Crews Bank & Trust’s holdings in NBT Bancorp were worth $42,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NBTB. GAMMA Investing LLC boosted its position in shares of NBT Bancorp by 4,554.4% during the first quarter. GAMMA Investing LLC now owns 60,275 shares of the bank’s stock valued at $2,586,000 after buying an additional 58,980 shares during the period. SG Americas Securities LLC bought a new position in NBT Bancorp in the 1st quarter valued at $884,000. NBT Bank N A NY grew its position in NBT Bancorp by 1.7% in the 1st quarter. NBT Bank N A NY now owns 276,053 shares of the bank’s stock valued at $11,843,000 after acquiring an additional 4,595 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in NBT Bancorp by 8.8% in the first quarter. Illinois Municipal Retirement Fund now owns 26,528 shares of the bank’s stock worth $1,138,000 after purchasing an additional 2,147 shares during the period. Finally, KBC Group NV lifted its position in shares of NBT Bancorp by 28.4% during the first quarter. KBC Group NV now owns 2,763 shares of the bank’s stock worth $119,000 after purchasing an additional 611 shares during the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NBT Bancorp news, Director David J. Nasca sold 19,603 shares of NBT Bancorp stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $43.42, for a total value of $851,162.26. Following the transaction, the director owned 82,910 shares in the company, valued at $3,599,952.20. The trade was a 19.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NBTB shares. Wall Street Zen raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. DA Davidson upped their target price on shares of NBT Bancorp from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Piper Sandler raised shares of NBT Bancorp to a “neutral” rating and set a $47.00 price target for the company in a research note on Tuesday, July 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of NBT Bancorp in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, NBT Bancorp presently has a consensus rating of “Hold” and an average price target of $52.00.

NBT Bancorp Price Performance

NASDAQ NBTB opened at $41.47 on Friday. The company has a market cap of $2.17 billion, a PE ratio of 14.97 and a beta of 0.54. The firm’s 50 day moving average price is $42.75 and its 200-day moving average price is $42.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.88 and a current ratio of 0.88. NBT Bancorp Inc. has a 52-week low of $37.31 and a 52-week high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, July 28th. The bank reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The company had revenue of $171.15 million during the quarter, compared to the consensus estimate of $171.04 million. NBT Bancorp had a net margin of 16.10% and a return on equity of 9.81%. Sell-side analysts forecast that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were paid a dividend of $0.37 per share. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.6%. NBT Bancorp’s dividend payout ratio (DPR) is currently 53.43%.

NBT Bancorp 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.