Mutual of America Capital Management LLC grew its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 6.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,174 shares of the bank’s stock after purchasing an additional 353 shares during the period. Mutual of America Capital Management LLC’s holdings in NBT Bancorp were worth $222,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of NBT Bancorp by 3.0% in the 1st quarter. BlackRock Inc. now owns 6,428,583 shares of the bank’s stock worth $256,501,000 after purchasing an additional 188,139 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of NBT Bancorp by 319.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 199,699 shares of the bank’s stock worth $7,968,000 after purchasing an additional 152,115 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of NBT Bancorp by 87.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 266,078 shares of the bank’s stock worth $10,617,000 after purchasing an additional 124,478 shares during the last quarter. Citadel Advisors LLC boosted its position in shares of NBT Bancorp by 250.2% in the 1st quarter. Citadel Advisors LLC now owns 86,354 shares of the bank’s stock worth $3,445,000 after purchasing an additional 61,692 shares during the last quarter. Finally, Richard Bernstein Advisors LLC bought a new position in shares of NBT Bancorp in the 1st quarter worth $1,984,000. 54.68% of the stock is owned by institutional investors.
In other NBT Bancorp news, CFO Scott Allen Kingsley purchased 1,500 shares of the stock in a transaction on Wednesday, July 28th. The shares were purchased at an average price of $34.27 per share, with a total value of $51,405.00. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at $171,350. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.72% of the stock is owned by insiders.
NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Sunday, July 25th. The bank reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.16. The firm had revenue of $118.49 million for the quarter, compared to the consensus estimate of $116.72 million. NBT Bancorp had a return on equity of 12.63% and a net margin of 30.38%. As a group, research analysts anticipate that NBT Bancorp Inc. will post 3.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Tuesday, August 31st. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.27. NBT Bancorp’s payout ratio is 47.26%.
Several research analysts have weighed in on the company. Piper Sandler upgraded NBT Bancorp from a “neutral” rating to an “overweight” rating and set a $40.00 target price on the stock in a report on Wednesday, July 28th. Zacks Investment Research lowered NBT Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, June 23rd. Finally, Boenning Scattergood reiterated a “neutral” rating on shares of NBT Bancorp in a report on Tuesday, July 27th.
NBT Bancorp Company Profile
NBT Bancorp, Inc is a holding company, which engages in the provision of financial solutions. It offers commercial banking, retail banking, and wealth management, as well as trust and investment services. The company was founded in 1986 and is headquartered in Norwich, NY.
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