Public Sector Pension Investment Board Sells 3,600 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Public Sector Pension Investment Board decreased its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 3.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 100,105 shares of the bank’s stock after selling 3,600 shares during the period. Public Sector Pension Investment Board’s holdings in NBT Bancorp were worth $4,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in NBT Bancorp by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after purchasing an additional 252 shares during the period. US Bancorp DE bought a new stake in shares of NBT Bancorp in the third quarter valued at about $57,000. Quest Partners LLC acquired a new stake in NBT Bancorp during the third quarter worth about $57,000. AQR Capital Management LLC acquired a new stake in NBT Bancorp during the second quarter worth about $214,000. Finally, Focused Wealth Management Inc bought a new position in NBT Bancorp during the third quarter valued at about $217,000. Institutional investors own 58.46% of the company’s stock.

Insiders Place Their Bets

In related 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 transaction of $882,000.00. Following the transaction, the director now owns 517,558 shares in the company, valued at $22,824,307.80. This represents a 3.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amy Wiles sold 556 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $25,020.00. Following the sale, the executive vice president now directly owns 28,909 shares in the company, valued at approximately $1,300,905. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 182,556 shares of company stock valued at $8,540,290. 3.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on NBTB. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Stephens reiterated an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.60.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $49.86 on Tuesday. The business has a 50 day simple moving average of $46.40 and a 200 day simple moving average of $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. The company has a market capitalization of $2.35 billion, a PE ratio of 17.56 and a beta of 0.49. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $52.31.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data 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 company had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. During the same period last year, the business earned $0.84 earnings per share. On average, sell-side analysts forecast that NBT Bancorp Inc. will post 2.91 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend on an annualized basis and a yield of 2.73%. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

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.