84,304 Shares in NBT Bancorp Inc. $NBTB Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 84,304 shares of the bank’s stock, valued at approximately $3,590,000. Edgestream Partners L.P. owned about 0.16% of NBT Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC grew its holdings in NBT Bancorp by 564.1% in the third 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 last quarter. State Street Corp raised its stake in shares of NBT Bancorp by 7.8% during the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock worth $105,177,000 after buying an additional 182,793 shares during the last quarter. Nuveen LLC boosted its position in shares of NBT Bancorp by 171.0% in the 4th quarter. Nuveen LLC now owns 286,107 shares of the bank’s stock worth $11,879,000 after buying an additional 180,528 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of NBT Bancorp by 63.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock worth $18,741,000 after buying an additional 174,639 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in NBT Bancorp in the 3rd quarter valued at about $4,886,000. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp News Summary

Here are the key news stories impacting NBT Bancorp this week:

• Positive Sentiment: NBT Bancorp raised its quarterly dividend to $0.40 per share from $0.37, equating to an annualized payout of $1.60 and an approximately 3.0% yield. The increase reinforces the stock’s appeal to income-oriented investors. NBT Bancorp Hits New 12-Month High After Dividend Announcement
• Positive Sentiment: Analyst sentiment was mixed but included bullish target increases: DA Davidson raised its price objective to $59 and retained a “buy” rating, while Piper Sandler previously lifted its target to $56 with an “overweight” rating. Analysts Have Conflicting Sentiments on NBT Bancorp
• Neutral Sentiment: Institutional ownership changes were mixed. Bank of New York Mellon reduced its stake by 2.2%, while Fifth Third Bancorp substantially increased its holding from a very small base. Because the filings reflect earlier-quarter activity, they provide limited insight into current trading conviction. Bank of New York Mellon Holdings
• Negative Sentiment: Stephens downgraded NBTB from “overweight” to “equal weight.” Although it increased its target to $55 from $52, the rating change suggests the analyst sees limited additional upside after the stock’s recent advance.
• Negative Sentiment: EVPs Sarah Halliday and Ruth Mahoney sold a combined 13,500 shares for approximately $730,710. The transactions reduced their individual holdings by roughly 29% and 27%, respectively, potentially weighing on sentiment even though the sales may reflect personal financial planning. Sarah Halliday SEC Filing Ruth Mahoney SEC Filing
• Negative Sentiment: The bank’s latest quarterly results narrowly missed expectations, with earnings of $1.01 per share versus $1.02 expected and revenue of $186.69 million versus $188.81 million forecast. The modest miss, combined with a consensus “hold” rating and an average target near the current price, supports the view that NBTB may be fully valued. NBT Bancorp Looks Fully Valued

Insider Buying and Selling

In related news, EVP Sarah A. Halliday sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $54.04, for a total transaction of $486,360.00. Following the sale, the executive vice president owned 22,054 shares in the company, valued at approximately $1,191,798.16. This trade represents a 28.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Heidi M. Hoeller sold 2,100 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $48.03, for a total value of $100,863.00. Following the completion of the transaction, the director owned 11,560 shares of the company’s stock, valued at $555,226.80. This trade represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 20,600 shares of company stock worth $1,064,573. 2.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Stephens downgraded shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $52.00 to $55.00 in a report on Thursday. Hovde Group reduced their price target on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a report on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of NBT Bancorp in a research report on Tuesday, July 21st. DA Davidson raised their price objective on shares of NBT Bancorp from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Sandler lifted their price objective on NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $54.12.

NBT Bancorp Trading Down 0.5%

Shares of NBTB stock opened at $52.65 on Friday. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 12.87 and a beta of 0.48. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $49.14 and a 200 day moving average price of $45.77. NBT Bancorp Inc. has a twelve month low of $39.19 and a twelve month high of $54.50.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, July 27th. The bank reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.01). The firm had revenue of $186.69 million for the quarter, compared to analyst estimates of $188.81 million. NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%. Research analysts forecast that NBT Bancorp Inc. will post 4.15 earnings per share for the current fiscal year.

NBT Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. NBT Bancorp’s payout ratio is currently 36.19%.

NBT Bancorp Company 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.