55,960 Shares in NBT Bancorp Inc. $NBTB Acquired by Deutsche Bank AG

Deutsche Bank AG acquired a new stake in NBT Bancorp Inc. (NASDAQ:NBTB) during the second quarter, according to its most recent filing with the SEC. The firm acquired 55,960 shares of the bank’s stock, valued at approximately $2,763,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NBTB. Louisiana State Employees Retirement System acquired a new stake in shares of NBT Bancorp in the 1st quarter valued at approximately $988,000. Bank of America Corp DE grew its holdings in NBT Bancorp by 32.5% during the first quarter. Bank of America Corp DE now owns 161,740 shares of the bank’s stock valued at $6,887,000 after purchasing an additional 39,665 shares during the period. Hsbc Holdings PLC bought a new position in shares of NBT Bancorp during the first quarter worth $1,013,000. Edgestream Partners L.P. acquired a new position in shares of NBT Bancorp in the 1st quarter valued at $3,590,000. Finally, Empowered Funds LLC bought a new stake in shares of NBT Bancorp in the 1st quarter valued at $1,545,000. 58.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Stephens downgraded NBT Bancorp from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $52.00 to $55.00 in a report on Thursday, July 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $54.00 price objective (up from $52.00) on shares of NBT Bancorp in a research report on Monday, August 3rd. Piper Sandler raised their target price on shares of NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Wall Street Zen downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, DA Davidson lifted their price target on shares of NBT Bancorp from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.10.

Insider Transactions at NBT Bancorp

In other news, EVP Sarah A. Halliday sold 9,000 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $54.04, for a total value of $486,360.00. Following the completion of the sale, the executive vice president directly owned 22,054 shares in the company, valued at approximately $1,191,798.16. The trade was a 28.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Heidi M. Hoeller sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $48.03, for a total value of $100,863.00. Following the completion of the sale, the director owned 11,560 shares of the company’s stock, valued at approximately $555,226.80. This trade represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 20,600 shares of company stock valued at $1,064,573. 2.99% of the stock is currently owned by company insiders.

NBT Bancorp Stock Down 0.2%

NBTB stock opened at $51.43 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 12.57 and a beta of 0.48. The business’s fifty day moving average price is $51.43 and its two-hundred day moving average price is $46.91. NBT Bancorp Inc. has a fifty-two week low of $39.19 and a fifty-two week high of $54.50.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, July 27th. The bank reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%.The business had revenue of $186.69 million for the quarter, compared to the consensus estimate of $188.81 million. On average, equities analysts anticipate that NBT Bancorp Inc. will post 4.15 earnings per share for the current year.

NBT Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.40 per share. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 1st. NBT Bancorp’s payout ratio is 36.19%.

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.