GSA Capital Partners LLP Acquires 22,048 Shares of NBT Bancorp Inc. $NBTB

GSA Capital Partners LLP boosted its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 316.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,006 shares of the bank’s stock after acquiring an additional 22,048 shares during the period. GSA Capital Partners LLP owned 0.06% of NBT Bancorp worth $1,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NBTB. Millennium Management LLC increased its position in NBT Bancorp by 564.1% during the 3rd quarter. Millennium Management LLC now owns 248,050 shares of the bank’s stock valued at $10,359,000 after purchasing an additional 210,699 shares during the period. State Street Corp increased its position in NBT Bancorp by 7.8% during the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after purchasing an additional 182,793 shares during the period. The Manufacturers Life Insurance Company increased its position in NBT Bancorp by 63.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock valued at $18,741,000 after purchasing an additional 174,639 shares during the period. Tudor Investment Corp ET AL purchased a new position in NBT Bancorp during the 3rd quarter valued at $4,886,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in NBT Bancorp during the 2nd quarter valued at $3,611,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Stock Up 1.7%

NBTB stock opened at $45.57 on Thursday. NBT Bancorp Inc. has a fifty-two week low of $39.19 and a fifty-two week high of $46.92. The business’s 50 day moving average price is $43.66 and its two-hundred day moving average price is $43.25. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 12.98 and a beta of 0.47.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The company had revenue of $184.48 million during the quarter, compared to the consensus estimate of $185.36 million. As a group, analysts forecast that NBT Bancorp Inc. will post 4.15 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. NBT Bancorp’s payout ratio is currently 42.17%.

Wall Street Analysts Forecast Growth

NBTB has been the topic of a number of research analyst reports. Hovde Group reduced their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a report on Monday, April 27th. Piper Sandler initiated coverage on NBT Bancorp in a report on Monday, March 16th. They set an “overweight” rating and a $50.00 target price on the stock. Janney Montgomery Scott downgraded NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. Weiss Ratings upgraded NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, DA Davidson reiterated a “buy” rating and set a $52.00 target price on shares of NBT Bancorp in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.50.

NBT Bancorp Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.