Cook Wealth LLC Sells 350 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Cook Wealth LLC reduced its holdings in NBT Bancorp Inc. (NASDAQ:NBTB) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,477 shares of the bank’s stock after selling 350 shares during the quarter. Cook Wealth LLC’s holdings in NBT Bancorp were worth $502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NBTB. GAMMA Investing LLC lifted its position in NBT Bancorp by 47.9% during the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after purchasing an additional 252 shares during the last quarter. Inspire Investing LLC raised its position in shares of NBT Bancorp by 3.7% during the 3rd quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock valued at $415,000 after buying an additional 331 shares in the last quarter. KBC Group NV lifted its holdings in shares of NBT Bancorp by 47.5% during the 4th quarter. KBC Group NV now owns 2,152 shares of the bank’s stock worth $103,000 after acquiring an additional 693 shares during the last quarter. US Bancorp DE purchased a new position in NBT Bancorp in the third quarter worth $57,000. Finally, Quest Partners LLC bought a new position in NBT Bancorp in the third quarter valued at $57,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

Analyst Upgrades and Downgrades

NBTB has been the topic of several recent research reports. StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their price target on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson initiated coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, NBT Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

NBT Bancorp Stock Performance

NASDAQ:NBTB opened at $47.63 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp Inc. has a fifty-two week low of $32.79 and a fifty-two week high of $52.44. The firm has a market cap of $2.25 billion, a PE ratio of 16.09 and a beta of 0.52. The business has a 50 day moving average price of $48.68 and a 200-day moving average price of $47.07.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter in the prior year, the business earned $0.72 EPS. Equities research analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 2.86%. NBT Bancorp’s dividend payout ratio is presently 45.95%.

Insider Buying and Selling at NBT Bancorp

In related news, Director Timothy E. Delaney sold 40,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the transaction, the director now owns 38,853 shares in the company, valued at $1,999,763.91. The trade was a 50.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $51.31, for a total transaction of $25,655.00. Following the completion of the sale, the executive vice president now owns 27,409 shares of the company’s stock, valued at $1,406,355.79. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,694 shares of company stock valued at $3,139,185 in the last 90 days. Insiders own 3.32% of the company’s stock.

About NBT Bancorp

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.