New Age Alpha Advisors LLC Makes New Investment in NBT Bancorp Inc. (NASDAQ:NBTB)

New Age Alpha Advisors LLC purchased a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 65,981 shares of the bank’s stock, valued at approximately $3,151,000. New Age Alpha Advisors LLC owned 0.14% of NBT Bancorp as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NBTB. Quest Partners LLC bought a new stake in NBT Bancorp during the 3rd quarter valued at $57,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of NBT Bancorp during the third quarter worth about $342,000. Intech Investment Management LLC bought a new stake in shares of NBT Bancorp in the third quarter worth about $365,000. Charles Schwab Investment Management Inc. increased its holdings in NBT Bancorp by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 585,636 shares of the bank’s stock valued at $25,903,000 after purchasing an additional 7,294 shares during the period. Finally, Independent Advisor Alliance bought a new position in NBT Bancorp during the 3rd quarter valued at approximately $221,000. 58.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on NBTB. DA Davidson started coverage on NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price on the stock. Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price target on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Finally, Hovde Group initiated coverage on NBT Bancorp in a report on Friday, March 21st. They set a “market perform” rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.50.

NBT Bancorp Price Performance

Shares of NBTB opened at $43.09 on Friday. NBT Bancorp Inc. has a fifty-two week low of $32.93 and a fifty-two week high of $52.44. The firm’s 50-day simple moving average is $46.19 and its two-hundred day simple moving average is $46.77. The stock has a market cap of $2.04 billion, a PE ratio of 14.56 and a beta of 0.48. 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 (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same period in the previous year, the company posted $0.72 earnings per share. Analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.34 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.36 annualized dividend and a dividend yield of 3.16%. NBT Bancorp’s payout ratio is presently 45.95%.

Insider Transactions at NBT Bancorp

In related news, Director Heidi M. Hoeller acquired 678 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $48.45 per share, for a total transaction of $32,849.10. Following the completion of the transaction, the director now directly owns 6,437 shares in the company, valued at approximately $311,872.65. This trade represents a 11.77 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sarah A. Halliday sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $48.45, for a total transaction of $242,250.00. Following the completion of the sale, the executive vice president now owns 25,564 shares in the company, valued at $1,238,575.80. This represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. 3.32% of the stock is owned by insiders.

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.