New Age Alpha Advisors LLC Sells 8,727 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

New Age Alpha Advisors LLC cut its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 13.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,254 shares of the bank’s stock after selling 8,727 shares during the quarter. New Age Alpha Advisors LLC owned about 0.12% of NBT Bancorp worth $2,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its position in NBT Bancorp by 2.7% during the first quarter. Principal Financial Group Inc. now owns 234,849 shares of the bank’s stock valued at $10,075,000 after buying an additional 6,150 shares during the period. SG Americas Securities LLC bought a new position in shares of NBT Bancorp in the 1st quarter worth about $884,000. Deutsche Bank AG lifted its position in NBT Bancorp by 53.1% during the 4th quarter. Deutsche Bank AG now owns 39,645 shares of the bank’s stock valued at $1,893,000 after acquiring an additional 13,742 shares during the period. GAMMA Investing LLC boosted its stake in 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 in the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in NBT Bancorp in the first quarter worth about $278,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. DA Davidson lifted their price objective on NBT Bancorp from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Finally, Piper Sandler raised NBT Bancorp to a “neutral” rating and set a $47.00 target price on the stock in a research note on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.00.

Insider Activity at NBT Bancorp

In related news, Director John H. Watt, Jr. sold 7,869 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the transaction, the director directly owned 116,027 shares of the company’s stock, valued at approximately $4,875,454.54. The trade was a 6.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.03% of the stock is owned by insiders.

NBT Bancorp Price Performance

NASDAQ NBTB opened at $40.85 on Thursday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 14.75 and a beta of 0.59. NBT Bancorp Inc. has a 1-year low of $37.31 and a 1-year high of $52.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.88 and a quick ratio of 0.88. The business’s fifty day moving average price is $41.98 and its 200-day moving average price is $43.35.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, July 28th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The company had revenue of $171.15 million during the quarter, compared to the consensus estimate of $171.04 million. NBT Bancorp had a return on equity of 9.81% and a net margin of 16.10%. On average, equities analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a $0.37 dividend. The ex-dividend date is Friday, August 29th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a dividend yield of 3.6%. NBT Bancorp’s dividend payout ratio (DPR) is presently 49.10%.

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 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.