Commonwealth Equity Services LLC Decreases Stake in NBT Bancorp Inc. $NBTB

Commonwealth Equity Services LLC cut its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 137,305 shares of the bank’s stock after selling 21,253 shares during the quarter. Commonwealth Equity Services LLC owned 0.26% of NBT Bancorp worth $5,701,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of NBT Bancorp by 1,645.9% in the second quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after purchasing an additional 609 shares during the period. Larson Financial Group LLC raised its holdings in shares of NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after purchasing an additional 799 shares during the period. Global Retirement Partners LLC boosted its position in shares of NBT Bancorp by 62.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock worth $43,000 after buying an additional 399 shares during the period. Allworth Financial LP purchased a new stake in shares of NBT Bancorp in the third quarter worth about $46,000. Finally, Resources Management Corp CT ADV boosted its position in shares of NBT Bancorp by 165.8% in the third quarter. Resources Management Corp CT ADV now owns 2,724 shares of the bank’s stock worth $114,000 after buying an additional 1,699 shares during the period. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Trading Down 0.0%

NBTB stock opened at $46.41 on Friday. NBT Bancorp Inc. has a 1-year low of $39.19 and a 1-year high of $47.07. The firm has a market cap of $2.41 billion, a P/E ratio of 13.22 and a beta of 0.49. The business’s 50 day moving average is $44.78 and its 200-day moving average is $43.65. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.01). The company had revenue of $184.48 million during the quarter, compared to the consensus estimate of $185.36 million. NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. Equities analysts anticipate that NBT Bancorp Inc. will post 4.15 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. NBT Bancorp’s payout ratio is presently 42.17%.

Analyst Ratings Changes

Several brokerages have issued reports on NBTB. Piper Sandler began coverage on NBT Bancorp in a research note on Monday, March 16th. They set an “overweight” rating and a $50.00 price objective on the stock. Janney Montgomery Scott cut NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Brean Capital cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Weiss Ratings upgraded NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, DA Davidson reiterated a “buy” rating and set a $52.00 price target on shares of NBT Bancorp in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, NBT Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.

About NBT Bancorp

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.