Union Savings Bank Cuts Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

Union Savings Bank reduced its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 7.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,383 shares of the bank’s stock after selling 443 shares during the period. Union Savings Bank’s holdings in NBT Bancorp were worth $231,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. NBT Bank N A NY boosted its holdings in shares of NBT Bancorp by 1.7% during the first quarter. NBT Bank N A NY now owns 276,053 shares of the bank’s stock worth $11,843,000 after purchasing an additional 4,595 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of NBT Bancorp during the first quarter worth about $884,000. GAMMA Investing LLC increased its position in shares of NBT Bancorp by 4,554.4% during the first quarter. GAMMA Investing LLC now owns 60,275 shares of the bank’s stock worth $2,586,000 after acquiring an additional 58,980 shares during the last quarter. Leigh Baldwin & CO. LLC purchased a new stake in shares of NBT Bancorp during the fourth quarter worth about $1,168,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NBT Bancorp by 13.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,895 shares of the bank’s stock valued at $6,825,000 after buying an additional 17,225 shares during the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Trading Down 0.7%

NBT Bancorp stock opened at $39.71 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.86 and a quick ratio of 0.86. NBT Bancorp Inc. has a one year low of $35.54 and a one year high of $52.44. The company’s fifty day moving average price is $41.91 and its two-hundred day moving average price is $44.77. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 13.15 and a beta of 0.58.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.04. NBT Bancorp had a net margin of 17.99% and a return on equity of 9.57%. The business had revenue of $155.31 million during the quarter, compared to analysts’ expectations of $151.00 million. During the same quarter last year, the company earned $0.68 earnings per share. On average, analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Monday, June 2nd. NBT Bancorp’s payout ratio is presently 45.03%.

Insiders Place Their Bets

In other news, Director Heidi M. Hoeller bought 2,553 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was bought at an average price of $43.21 per share, for a total transaction of $110,315.13. Following the completion of the purchase, the director now owns 8,990 shares of the company’s stock, valued at approximately $388,457.90. The trade was a 39.66% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John H. Watt, Jr. sold 7,869 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $42.02, for a total transaction of $330,655.38. Following the completion of the sale, the director now directly owns 116,027 shares of the company’s stock, valued at approximately $4,875,454.54. This represents a 6.35% decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 5,491 shares of company stock worth $235,674 over the last quarter. Company insiders own 3.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Hovde Group assumed coverage on NBT Bancorp in a report on Friday, March 21st. They set a “market perform” rating and a $50.00 target price for the company. DA Davidson reduced their price objective on NBT Bancorp from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Finally, Wall Street Zen downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. One research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.75.

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.