Eagle Asset Management Inc. Has $16.76 Million Stock Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Eagle Asset Management Inc. raised its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 76.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 378,898 shares of the bank’s stock after acquiring an additional 163,952 shares during the period. Eagle Asset Management Inc. owned about 0.80% of NBT Bancorp worth $16,759,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in NBT Bancorp by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after acquiring an additional 252 shares in the last quarter. Arizona State Retirement System grew its stake in shares of NBT Bancorp by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock valued at $509,000 after purchasing an additional 258 shares during the period. Inspire Investing LLC grew its stake in shares of NBT Bancorp by 3.7% in the 3rd quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock valued at $415,000 after purchasing an additional 331 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of NBT Bancorp by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock valued at $915,000 after purchasing an additional 400 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of NBT Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 9,268 shares of the bank’s stock valued at $340,000 after purchasing an additional 635 shares during the period. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Stock Up 2.3 %

Shares of NBTB opened at $50.45 on Friday. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 17.76 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The business’s fifty day moving average price is $45.70 and its two-hundred day moving average price is $43.03. NBT Bancorp Inc. has a 52 week low of $32.79 and a 52 week high of $51.93.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same period last year, the company earned $0.84 EPS. On average, analysts predict that NBT Bancorp Inc. will post 2.91 earnings per share for the current year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.34 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.70%. NBT Bancorp’s payout ratio is 47.89%.

Wall Street Analysts Forecast Growth

NBTB has been the topic of a number of research analyst reports. Stephens restated an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a research report on Tuesday, September 10th. StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, NBT Bancorp has an average rating of “Hold” and an average price target of $42.60.

Insider Activity

In other news, Director V Daniel Robinson II sold 50,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $44.58, for a total value of $2,229,000.00. Following the transaction, the director now owns 417,558 shares of the company’s stock, valued at $18,614,735.64. This represents a 10.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John H. Watt, Jr. sold 10,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $49.40, for a total value of $494,000.00. Following the completion of the transaction, the director now directly owns 125,301 shares in the company, valued at approximately $6,189,869.40. This trade represents a 7.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,556 shares of company stock valued at $8,039,690 in the last 90 days. 3.32% of the stock is owned by company insiders.

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 indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.