SOL Capital Management CO Acquires New Shares in NBT Bancorp Inc. $NBTB

SOL Capital Management CO acquired a new position in NBT Bancorp Inc. (NASDAQ:NBTB) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 10,477 shares of the bank’s stock, valued at approximately $445,000.

Several other hedge funds have also recently bought and sold shares of NBTB. EverSource Wealth Advisors LLC lifted its position in shares of NBT Bancorp by 1,645.9% in the second quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after buying an additional 609 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of NBT Bancorp by 13,316.7% during the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after acquiring an additional 799 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of NBT Bancorp by 62.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock valued at $43,000 after acquiring an additional 399 shares in the last quarter. Allworth Financial LP bought a new position in shares of NBT Bancorp in the 3rd quarter valued at approximately $46,000. Finally, Quadrant Capital Group LLC acquired a new stake in NBT Bancorp in the 4th quarter worth approximately $64,000. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Trading Down 0.3%

NBT Bancorp stock opened at $50.08 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87. The business’s 50-day simple moving average is $46.27 and its 200-day simple moving average is $44.50. The firm has a market capitalization of $2.60 billion, a PE ratio of 14.27 and a beta of 0.48. NBT Bancorp Inc. has a 52 week low of $39.19 and a 52 week high of $51.09.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The business had revenue of $184.48 million for the quarter, compared to analyst estimates of $185.35 million. Equities research analysts forecast that NBT Bancorp Inc. will post 4.14 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.37 per share. The ex-dividend date was Monday, June 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.0%. NBT Bancorp’s payout ratio is 42.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NBTB shares. DA Davidson reaffirmed a “buy” rating and set a $52.00 target price on shares of NBT Bancorp in a research report on Monday, April 27th. Weiss Ratings raised shares of NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Piper Sandler boosted their price objective on shares of NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, Hovde Group decreased their price objective on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.50.

Insider Buying and Selling

In other news, EVP Ruth H. Mahoney sold 5,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $46.60, for a total value of $233,000.00. Following the completion of the sale, the executive vice president directly owned 16,428 shares of the company’s stock, valued at approximately $765,544.80. This represents a 23.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Heidi M. Hoeller sold 2,100 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $48.03, for a total transaction of $100,863.00. Following the completion of the sale, the director owned 11,560 shares in the company, valued at approximately $555,226.80. The trade was a 15.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.99% of the stock is owned by insiders.

NBT Bancorp Profile

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.