Latest Stocks: NBT Bancorp Inc. (NBTB) Stake Decreased by First Trust Advisors LP

Latest Stocks: NBT Bancorp Inc. (NBTB) Stake Decreased by First Trust Advisors LP

First Trust Advisors LP decreased its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 99,794 shares of the bank’s stock after selling 2,383 shares during the period. First Trust Advisors LP’s holdings in NBT Bancorp were worth $3,699,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Chicago Equity Partners LLC acquired a new position in shares of NBT Bancorp during the first quarter worth approximately $950,000. Great West Life Assurance Co. Can raised its position in shares of NBT Bancorp by 7.4% in the first quarter. Great West Life Assurance Co. Can now owns 61,881 shares of the bank’s stock worth $2,291,000 after buying an additional 4,259 shares during the period. Wells Fargo & Company MN raised its position in shares of NBT Bancorp by 0.6% in the first quarter. Wells Fargo & Company MN now owns 40,684 shares of the bank’s stock worth $1,508,000 after buying an additional 225 shares during the period. Russell Investments Group Ltd. raised its position in shares of NBT Bancorp by 254.5% in the first quarter. Russell Investments Group Ltd. now owns 20,208 shares of the bank’s stock worth $749,000 after buying an additional 14,508 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of NBT Bancorp by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 4,790 shares of the bank’s stock worth $177,000 after buying an additional 130 shares during the period. Institutional investors own 48.45% of the company’s stock.

NBT Bancorp Inc. (NASDAQ NBTB) opened at 35.76 on Tuesday. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 19.54 and a beta of 0.87. NBT Bancorp Inc. has a 12-month low of $26.67 and a 12-month high of $42.56. The company has a 50-day moving average of $37.26 and a 200 day moving average of $39.31.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, April 24th. The bank reported $0.46 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The business had revenue of $97.20 million during the quarter, compared to analysts’ expectations of $97.54 million. NBT Bancorp had a net margin of 19.47% and a return on equity of 8.71%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 EPS. Equities analysts expect that NBT Bancorp Inc. will post $1.94 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.57%. NBT Bancorp’s dividend payout ratio is 51.11%. Separately, Zacks Investment Research upgraded shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Saturday.

In other news, Director John C. Mitchell sold 1,570 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $36.27, for a total value of $56,943.90. Following the completion of the sale, the director now directly owns 34,219 shares of the company’s stock, valued at approximately $1,241,123.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John C. Mitchell sold 1,438 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $35.48, for a total transaction of $51,020.24. Following the completion of the sale, the director now directly owns 32,781 shares of the company’s stock, valued at $1,163,069.88. The disclosure for this sale can be found here. Company insiders own 2.83% of the company’s stock. NBT Bancorp Company Profile

Want to see what other hedge funds are holding NBTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NBT Bancorp Inc. (NASDAQ:NBTB). Receive News & Ratings for NBT Bancorp Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NBT Bancorp Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Want to see what other hedge funds are holding NBTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NBT Bancorp Inc. (NASDAQ:NBTB).

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