Invesco Ltd. Buys 4,713 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Invesco Ltd. boosted its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 0.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 588,093 shares of the bank’s stock after acquiring an additional 4,713 shares during the period. Invesco Ltd.’s holdings in NBT Bancorp were worth $19,049,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its stake in NBT Bancorp by 30.3% in the first quarter. Thrivent Financial for Lutherans now owns 45,421 shares of the bank’s stock valued at $1,471,000 after buying an additional 10,552 shares during the period. Wells Fargo & Company MN lifted its stake in NBT Bancorp by 37.9% in the first quarter. Wells Fargo & Company MN now owns 120,854 shares of the bank’s stock valued at $3,914,000 after buying an additional 33,207 shares during the period. Geode Capital Management LLC lifted its stake in NBT Bancorp by 7.6% in the first quarter. Geode Capital Management LLC now owns 650,065 shares of the bank’s stock valued at $21,055,000 after buying an additional 46,186 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in NBT Bancorp by 48.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,033 shares of the bank’s stock valued at $714,000 after buying an additional 7,187 shares during the period. Finally, Legal & General Group Plc lifted its stake in NBT Bancorp by 0.8% in the first quarter. Legal & General Group Plc now owns 127,255 shares of the bank’s stock valued at $4,122,000 after buying an additional 978 shares during the period. Institutional investors and hedge funds own 56.02% of the company’s stock.

NBTB has been the topic of several recent analyst reports. BidaskClub lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, May 14th. Zacks Investment Research raised NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Finally, Stephens began coverage on NBT Bancorp in a research report on Monday, June 1st. They set an “equal weight” rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. NBT Bancorp has a consensus rating of “Hold” and an average target price of $38.67.

Shares of NASDAQ:NBTB opened at $30.76 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.15. NBT Bancorp Inc. has a twelve month low of $26.32 and a twelve month high of $41.50. The stock’s 50 day moving average is $30.36 and its 200-day moving average is $34.74. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 13.32 and a beta of 0.66.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, April 27th. The bank reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.27). NBT Bancorp had a return on equity of 9.28% and a net margin of 20.00%. The firm had revenue of $112.60 million for the quarter, compared to analyst estimates of $111.64 million. Equities research analysts anticipate that NBT Bancorp Inc. will post 2.07 earnings per share for the current fiscal year.

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 commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, direct loans, mortgages, business banking loans, and commercial loans; and residential real estate loans, as well as development loans.

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Institutional Ownership by Quarter for NBT Bancorp (NASDAQ:NBTB)

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