Community Bank N.A. Cuts Stock Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Community Bank N.A. cut its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 3.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,695 shares of the bank’s stock after selling 800 shares during the quarter. Community Bank N.A.’s holdings in NBT Bancorp were worth $871,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Eagle Asset Management Inc. grew its stake in NBT Bancorp by 76.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock worth $16,759,000 after buying an additional 163,952 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of NBT Bancorp during the third quarter worth about $439,000. Edgestream Partners L.P. acquired a new position in shares of NBT Bancorp during the second quarter valued at about $1,974,000. Ceredex Value Advisors LLC raised its position in shares of NBT Bancorp by 2.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock valued at $8,473,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in NBT Bancorp by 3.9% in the 3rd quarter. Raymond James & Associates now owns 95,062 shares of the bank’s stock worth $4,205,000 after purchasing an additional 3,540 shares in the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Stephens reissued an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.60.

NBT Bancorp Stock Up 0.2 %

NBTB stock opened at $49.86 on Tuesday. The company has a market capitalization of $2.35 billion, a P/E ratio of 17.56 and a beta of 0.52. NBT Bancorp Inc. has a 12 month low of $32.79 and a 12 month high of $52.31. The firm’s fifty day simple moving average is $46.40 and its 200-day simple moving average is $43.74. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period in the prior year, the company earned $0.84 earnings per share. As a group, equities research analysts forecast that NBT Bancorp Inc. will post 2.91 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.73%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is 47.89%.

Insider Buying and Selling

In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total value 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 represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jack H. Webb sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $50.06, for a total value of $500,600.00. Following the sale, the director now owns 45,018 shares in the company, valued at $2,253,601.08. This trade represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,556 shares of company stock valued at $8,540,290 over the last ninety days. Company insiders own 3.32% of the company’s stock.

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.