Principal Financial Group Inc. Grows Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Principal Financial Group Inc. boosted its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 0.6% during the first quarter, Holdings reports. The firm owned 333,116 shares of the bank’s stock after acquiring an additional 2,007 shares during the period. Principal Financial Group Inc.’s holdings in NBT Bancorp were worth $13,291,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in NBT Bancorp during the fourth quarter valued at $2,332,000. Price T Rowe Associates Inc. MD raised its stake in NBT Bancorp by 11.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,557 shares of the bank’s stock valued at $1,270,000 after purchasing an additional 4,105 shares in the last quarter. Norges Bank purchased a new stake in NBT Bancorp during the fourth quarter valued at $9,752,000. Credit Suisse AG raised its stake in NBT Bancorp by 25.7% during the fourth quarter. Credit Suisse AG now owns 83,500 shares of the bank’s stock valued at $2,680,000 after purchasing an additional 17,070 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in NBT Bancorp during the fourth quarter valued at $329,000. 54.99% of the stock is currently owned by institutional investors.

NBTB stock opened at $38.05 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.88. NBT Bancorp Inc. has a twelve month low of $26.10 and a twelve month high of $42.79. The company has a market capitalization of $1.65 billion, a PE ratio of 12.48 and a beta of 0.70. The company’s fifty day moving average price is $39.07.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Sunday, April 25th. The bank reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.18. NBT Bancorp had a net margin of 27.26% and a return on equity of 11.48%. The business had revenue of $116.09 million for the quarter, compared to analysts’ expectations of $119.78 million. Equities research analysts forecast that NBT Bancorp Inc. will post 3.11 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, May 28th. NBT Bancorp’s dividend payout ratio (DPR) is 45.57%.

Separately, Zacks Investment Research cut shares of NBT Bancorp from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research report on Thursday, June 3rd.

In other news, insider Matthew K. Durkee sold 7,597 shares of the company’s stock in a transaction dated Tuesday, May 18th. The shares were sold at an average price of $40.50, for a total value of $307,678.50. Following the transaction, the insider now directly owns 22,915 shares in the company, valued at $928,057.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.72% of the company’s stock.

NBT Bancorp Company Profile

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, mortgages, business banking loans, and commercial loans; and residential real estate loans.

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

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