Burney Co. Invests $441,000 in NBT Bancorp Inc. (NASDAQ:NBTB)

Burney Co. acquired a new stake in NBT Bancorp Inc. (NASDAQ:NBTB) during the 4th quarter, Holdings Channel.com reports. The firm acquired 9,242 shares of the bank’s stock, valued at approximately $441,000.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in NBT Bancorp in the 4th quarter valued at about $12,007,000. Eagle Asset Management Inc. boosted its stake in shares of NBT Bancorp by 76.3% in the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after purchasing an additional 163,952 shares during the period. Deprince Race & Zollo Inc. grew its holdings in shares of NBT Bancorp by 14.9% in the second 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 in the last quarter. Ceredex Value Advisors LLC increased its stake 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 period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in NBT Bancorp by 55.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock worth $9,946,000 after buying an additional 80,232 shares in the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Stock Up 1.5 %

NBT Bancorp stock opened at $47.86 on Friday. The stock has a market cap of $2.26 billion, a PE ratio of 16.85 and a beta of 0.53. 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 stock’s fifty day moving average is $49.05 and its two-hundred day moving average is $46.47. NBT Bancorp Inc. has a 1-year low of $32.79 and a 1-year high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same quarter last year, the company earned $0.84 EPS. On average, sell-side analysts expect that NBT Bancorp Inc. will post 2.95 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is 47.89%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. DA Davidson started coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target for the company. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods increased their price target on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NBT Bancorp presently has an average rating of “Hold” and an average price target of $48.80.

Insider Activity at NBT Bancorp

In related news, Director Timothy E. Delaney sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the transaction, the director now owns 38,853 shares in the company, valued at $1,999,763.91. This trade represents a 50.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Amy Wiles sold 500 shares of NBT Bancorp stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the transaction, the executive vice president now directly owns 27,409 shares in the company, valued at approximately $1,406,355.79. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,694 shares of company stock valued at $4,048,185 in the last ninety days. 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.