Hancock Holding Co. lowered its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 21.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,000 shares of the bank’s stock after selling 6,200 shares during the period. Hancock Holding Co. owned about 0.05% of NBT Bancorp worth $853,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in NBTB. Bank of Montreal Can boosted its stake in shares of NBT Bancorp by 26.0% in the first quarter. Bank of Montreal Can now owns 2,931 shares of the bank’s stock valued at $109,000 after buying an additional 604 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of NBT Bancorp by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 4,790 shares of the bank’s stock valued at $177,000 after buying an additional 130 shares in the last quarter. Cpcm LLC bought a new stake in shares of NBT Bancorp during the fourth quarter valued at about $207,000. Russell Investments Group Ltd. bought a new stake in shares of NBT Bancorp during the fourth quarter valued at about $239,000. Finally, Trexquant Investment LP bought a new stake in shares of NBT Bancorp during the first quarter valued at about $218,000. 50.32% of the stock is owned by institutional investors.
Shares of NBT Bancorp Inc. (NBTB) traded down 1.79% during mid-day trading on Friday, reaching $37.76. 488,575 shares of the company were exchanged. NBT Bancorp Inc. has a 12 month low of $26.67 and a 12 month high of $42.56. The firm’s 50-day moving average is $37.24 and its 200-day moving average is $39.22. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 20.63 and a beta of 0.92.
NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, April 24th. The bank reported $0.46 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. NBT Bancorp had a net margin of 19.58% and a return on equity of 8.75%. The company had revenue of $97.20 million for the quarter, compared to analyst estimates of $97.54 million. During the same quarter in the prior year, the business posted $0.43 EPS. NBT Bancorp’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities analysts forecast that NBT Bancorp Inc. will post $1.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a $0.23 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.44%. NBT Bancorp’s payout ratio is presently 50.27%.
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A number of brokerages recently weighed in on NBTB. Zacks Investment Research cut shares of NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Finally, Piper Jaffray Companies raised shares of NBT Bancorp from an “underweight” rating to a “neutral” rating and set a $35.50 price target for the company in a research report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. NBT Bancorp presently has an average rating of “Hold” and a consensus target price of $34.75.
In related news, Director John C. Mitchell sold 1,570 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $36.27, for a total value of $56,943.90. Following the transaction, the director now directly owns 34,219 shares in the company, valued at approximately $1,241,123.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Mitchell sold 1,438 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $35.48, for a total transaction of $51,020.24. Following the completion of the transaction, the director now owns 32,781 shares in the company, valued at $1,163,069.88. The disclosure for this sale can be found here. Company insiders own 2.83% of the company’s stock.
About NBT Bancorp
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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