NBT Bancorp Inc. $NBTB Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 60.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,579 shares of the bank’s stock after purchasing an additional 22,780 shares during the quarter. Thrivent Financial for Lutherans owned about 0.12% of NBT Bancorp worth $2,515,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in NBT Bancorp by 7.8% in the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after purchasing an additional 182,793 shares during the last quarter. Victory Capital Management Inc. raised its stake in NBT Bancorp by 1.1% in the 3rd quarter. Victory Capital Management Inc. now owns 650,125 shares of the bank’s stock valued at $27,149,000 after purchasing an additional 7,253 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in NBT Bancorp by 63.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock valued at $18,741,000 after purchasing an additional 174,639 shares during the last quarter. JPMorgan Chase & Co. raised its stake in NBT Bancorp by 26.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock valued at $13,986,000 after purchasing an additional 70,594 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of NBT Bancorp by 564.1% in the 3rd quarter. Millennium Management LLC now owns 248,050 shares of the bank’s stock worth $10,359,000 after acquiring an additional 210,699 shares during the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB opened at $45.93 on Tuesday. The business has a 50-day moving average price of $43.94 and a 200 day moving average price of $43.36. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 13.09 and a beta of 0.47. NBT Bancorp Inc. has a 12-month low of $39.19 and a 12-month high of $46.92.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. The company had revenue of $184.48 million during the quarter, compared to analyst estimates of $185.36 million. Sell-side analysts expect that NBT Bancorp Inc. will post 4.15 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. NBT Bancorp’s dividend payout ratio (DPR) is 42.17%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Janney Montgomery Scott downgraded NBT Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, February 23rd. Brean Capital downgraded NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Piper Sandler assumed coverage on NBT Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $50.00 target price for the company. Finally, DA Davidson reaffirmed a “buy” rating and issued a $52.00 target price on shares of NBT Bancorp in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.50.

About NBT Bancorp

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.