NBT Bancorp Inc. (NASDAQ:NBTB) Shares Sold by GSA Capital Partners LLP
GSA Capital Partners LLP reduced its holdings in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 28.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,819 shares of the bank’s stock after selling 16,415 shares during the quarter. GSA Capital Partners LLP owned 0.09% of NBT Bancorp worth $1,557,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. grew its stake in NBT Bancorp by 1.2% during the first quarter. BlackRock Inc. now owns 5,678,765 shares of the bank’s stock worth $201,482,000 after purchasing an additional 68,838 shares during the period. Millennium Management LLC lifted its holdings in shares of NBT Bancorp by 34.7% in the first quarter. Millennium Management LLC now owns 261,943 shares of the bank’s stock valued at $9,294,000 after purchasing an additional 67,485 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NBT Bancorp by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,104,881 shares of the bank’s stock valued at $74,681,000 after purchasing an additional 40,933 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of NBT Bancorp by 19.4% in the first quarter. JPMorgan Chase & Co. now owns 158,446 shares of the bank’s stock valued at $5,621,000 after purchasing an additional 25,794 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of NBT Bancorp by 33.2% in the second quarter. First Trust Advisors LP now owns 97,165 shares of the bank’s stock valued at $3,707,000 after purchasing an additional 24,196 shares in the last quarter. Institutional investors and hedge funds own 52.28% of the company’s stock.
In related news, EVP Joseph R. Stagliano sold 5,500 shares of NBT Bancorp stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $41.45, for a total transaction of $227,975.00. Following the completion of the sale, the executive vice president now owns 59,737 shares of the company’s stock, valued at $2,476,098.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sarah A. Halliday acquired 850 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were acquired at an average cost of $39.18 per share, with a total value of $33,303.00. Following the purchase, the executive vice president now directly owns 5,712 shares of the company’s stock, valued at approximately $223,796.16. The disclosure for this purchase can be found here. 3.23% of the stock is currently owned by company insiders.
NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, July 23rd. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. The business had revenue of $109.90 million during the quarter, compared to the consensus estimate of $108.45 million. NBT Bancorp had a return on equity of 10.30% and a net margin of 20.92%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the business posted $0.49 earnings per share. analysts anticipate that NBT Bancorp Inc. will post 2.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Thursday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is presently 50.76%.
A number of research firms have recently weighed in on NBTB. Zacks Investment Research lowered NBT Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. BidaskClub lowered NBT Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of NBT Bancorp in a research report on Wednesday, July 25th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $40.13.
NBT Bancorp Profile
NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises commercial, commercial real estate, agricultural, agricultural real estate, and business banking loans; consumer loans, such as indirect, home equity, and direct loans; and residential real estate mortgages, as well as real estate construction and development loans.
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