Public Sector Pension investment Board cut its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 28.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,343 shares of the bank’s stock after selling 8,900 shares during the quarter. Public Sector Pension investment Board owned 0.05% of NBT Bancorp worth $826,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of NBT Bancorp by 47,917.6% in the first quarter. BlackRock Inc. now owns 5,456,241 shares of the bank’s stock valued at $202,263,000 after buying an additional 5,444,878 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of NBT Bancorp by 7.4% in the first quarter. Vanguard Group Inc. now owns 4,067,362 shares of the bank’s stock valued at $150,777,000 after buying an additional 279,331 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NBT Bancorp by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,951,150 shares of the bank’s stock valued at $72,330,000 after buying an additional 48,519 shares in the last quarter. State Street Corp boosted its stake in shares of NBT Bancorp by 14.1% in the first quarter. State Street Corp now owns 1,246,976 shares of the bank’s stock valued at $46,225,000 after buying an additional 154,441 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of NBT Bancorp by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 815,177 shares of the bank’s stock valued at $30,121,000 after buying an additional 18,462 shares in the last quarter. Hedge funds and other institutional investors own 49.20% of the company’s stock.

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) opened at 36.94 on Thursday. The firm’s 50-day moving average price is $34.12 and its 200-day moving average price is $36.17. NBT Bancorp Inc. has a 52-week low of $31.28 and a 52-week high of $42.56. The stock has a market capitalization of $1.61 billion, a P/E ratio of 19.86 and a beta of 0.91.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, July 24th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $99.93 million during the quarter, compared to analyst estimates of $100.91 million. NBT Bancorp had a return on equity of 8.81% and a net margin of 19.68%. During the same period last year, the company posted $0.46 EPS. Equities analysts forecast that NBT Bancorp Inc. will post $1.95 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Wednesday, August 30th. NBT Bancorp’s payout ratio is currently 49.46%.

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A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “hold” rating and issued a $38.00 price target on shares of NBT Bancorp in a research note on Tuesday. Zacks Investment Research downgraded NBT Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Piper Jaffray Companies reiterated a “hold” rating and set a $35.00 target price on shares of NBT Bancorp in a research report on Sunday, September 17th. Boenning Scattergood upgraded NBT Bancorp from an “under perform” rating to a “neutral” rating in a research report on Tuesday, August 15th. Finally, ValuEngine downgraded NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.88.

NBT Bancorp Company Profile

NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.

Institutional Ownership by Quarter for NBT Bancorp (NASDAQ:NBTB)

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