Focused Wealth Management Inc Acquires New Stake in NBT Bancorp Inc. (NASDAQ:NBTB)

Focused Wealth Management Inc bought a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) during the third quarter, HoldingsChannel reports. The institutional investor bought 4,897 shares of the bank’s stock, valued at approximately $217,000.

A number of other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of NBT Bancorp by 540.2% in the 2nd quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock valued at $27,147,000 after acquiring an additional 593,436 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of NBT Bancorp by 36.7% in the second quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock worth $24,307,000 after buying an additional 169,180 shares during the last quarter. Deprince Race & Zollo Inc. grew its stake in NBT Bancorp by 14.9% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock valued at $31,978,000 after purchasing an additional 107,404 shares during the last quarter. Ceredex Value Advisors LLC raised its position in NBT Bancorp by 40.9% during the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock worth $13,680,000 after buying an additional 89,800 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in NBT Bancorp by 978.7% during the 1st quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock valued at $3,318,000 after acquiring an additional 82,071 shares during the period. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Stephens reaffirmed 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 raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $42.60.

NBT Bancorp Stock Up 2.5 %

NBTB opened at $44.93 on Wednesday. The business’s fifty day simple moving average is $45.07 and its 200 day simple moving average is $41.97. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.12 billion, a P/E ratio of 15.82 and a beta of 0.49. NBT Bancorp Inc. has a 52 week low of $32.79 and a 52 week high of $50.83.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The business had revenue of $202.00 million during the quarter, compared to analyst estimates of $144.70 million. During the same quarter last year, the firm earned $0.84 earnings per share. As a group, equities research analysts anticipate that NBT Bancorp Inc. will post 2.89 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.34 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 annualized dividend and a yield of 3.03%. NBT Bancorp’s dividend payout ratio is presently 47.89%.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director John H. Watt, Jr. sold 20,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total value of $909,000.00. Following the completion of the sale, the director now directly owns 143,101 shares of the company’s stock, valued at approximately $6,503,940.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director V Daniel Robinson II sold 50,000 shares of NBT Bancorp stock in a transaction on Friday, September 13th. The shares were sold at an average price of $44.58, for a total value of $2,229,000.00. Following the transaction, the director now owns 417,558 shares in the company, valued at $18,614,735.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John H. Watt, Jr. sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total value of $909,000.00. Following the completion of the transaction, the director now directly owns 143,101 shares of the company’s stock, valued at approximately $6,503,940.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,556 shares of company stock worth $5,436,790 in the last three months. 3.32% of the stock is owned by company insiders.

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.