Teacher Retirement System of Texas Has $445,000 Stock Position in NBT Bancorp Inc. $NBTB

Teacher Retirement System of Texas boosted its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 42.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,700 shares of the bank’s stock after acquiring an additional 3,180 shares during the period. Teacher Retirement System of Texas’ holdings in NBT Bancorp were worth $445,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NBTB. TD Private Client Wealth LLC grew its holdings in shares of NBT Bancorp by 51.3% during the first quarter. TD Private Client Wealth LLC now owns 867 shares of the bank’s stock valued at $37,000 after buying an additional 294 shares during the last quarter. Farther Finance Advisors LLC lifted its position in NBT Bancorp by 2,902.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,441 shares of the bank’s stock valued at $60,000 after acquiring an additional 1,393 shares in the last quarter. GAMMA Investing LLC boosted its stake in NBT Bancorp by 38.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,951 shares of the bank’s stock valued at $81,000 after purchasing an additional 546 shares during the last quarter. Stone House Investment Management LLC bought a new stake in NBT Bancorp during the 1st quarter worth approximately $88,000. Finally, US Bancorp DE increased its holdings in NBT Bancorp by 68.5% during the 1st quarter. US Bancorp DE now owns 3,093 shares of the bank’s stock worth $133,000 after purchasing an additional 1,257 shares in the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NBTB shares. Janney Montgomery Scott raised NBT Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. DA Davidson downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Wall Street Zen upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of NBT Bancorp in a research note on Wednesday, October 8th. Finally, Piper Sandler set a $47.00 target price on NBT Bancorp and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Insider Buying and Selling at NBT Bancorp

In other news, Director Timothy E. Delaney purchased 10,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was bought at an average price of $40.98 per share, for a total transaction of $409,800.00. Following the purchase, the director owned 51,885 shares of the company’s stock, valued at $2,126,247.30. The trade was a 23.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David J. Nasca sold 19,603 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $43.42, for a total value of $851,162.26. Following the completion of the sale, the director owned 82,910 shares in the company, valued at $3,599,952.20. This represents a 19.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.03% of the stock is currently owned by corporate insiders.

NBT Bancorp Stock Performance

Shares of NBTB stock opened at $41.61 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 13.87 and a beta of 0.55. NBT Bancorp Inc. has a 52 week low of $37.31 and a 52 week high of $52.44. The firm’s 50-day simple moving average is $41.88 and its two-hundred day simple moving average is $42.25.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, October 27th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.08. NBT Bancorp had a net margin of 17.24% and a return on equity of 10.35%. The company had revenue of $186.07 million during the quarter, compared to analyst estimates of $183.87 million. As a group, equities analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.37 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.48 annualized dividend and a dividend yield of 3.6%. NBT Bancorp’s payout ratio is presently 49.33%.

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.