NBT Bancorp Inc. (NASDAQ:NBTB) Shares Purchased by American Century Companies Inc.

Posted by Defense World Staff on Sep 4th, 2023

American Century Companies Inc. increased its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB – Free Report) by 15.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,788 shares of the bank’s stock after purchasing an additional 43,840 shares during the quarter. American Century Companies Inc. owned 0.75% of NBT Bancorp worth $10,823,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in shares of NBT Bancorp by 3.5% during the 3rd quarter. Royal Bank of Canada now owns 8,079 shares of the bank’s stock worth $306,000 after acquiring an additional 275 shares in the last quarter. Arizona State Retirement System boosted its position in shares of NBT Bancorp by 2.7% during the 1st quarter. Arizona State Retirement System now owns 12,412 shares of the bank’s stock worth $418,000 after acquiring an additional 324 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of NBT Bancorp by 1.7% during the 4th quarter. MetLife Investment Management LLC now owns 21,828 shares of the bank’s stock worth $948,000 after acquiring an additional 369 shares in the last quarter. LPL Financial LLC boosted its position in shares of NBT Bancorp by 4.1% during the 4th quarter. LPL Financial LLC now owns 11,308 shares of the bank’s stock worth $491,000 after acquiring an additional 444 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of NBT Bancorp by 0.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 111,753 shares of the bank’s stock worth $4,852,000 after acquiring an additional 463 shares in the last quarter. 58.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NBTB shares. Raymond James upped their price objective on NBT Bancorp from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. StockNews.com began coverage on NBT Bancorp in a report on Thursday, August 17th. They issued a “sell” rating for the company. Piper Sandler boosted their target price on NBT Bancorp from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 15th. Finally, Stephens reissued an “equal weight” rating and issued a $35.00 target price on shares of NBT Bancorp in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.63.

Read Our Latest Report on NBT Bancorp

Insider Buying and Selling at NBT Bancorp

In other news, EVP Amy Wiles sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $35.50, for a total transaction of $71,000.00. Following the completion of the transaction, the executive vice president now directly owns 27,959 shares of the company’s stock, valued at approximately $992,544.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.53% of the stock is owned by company insiders.

NBT Bancorp Stock Up 1.0 %

NBTB opened at $34.78 on Monday. The business has a 50 day moving average price of $34.84 and a two-hundred day moving average price of $34.91. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.49 billion, a PE ratio of 10.80 and a beta of 0.53. NBT Bancorp Inc. has a 52 week low of $27.52 and a 52 week high of $48.68.

NBT Bancorp (NASDAQ:NBTB – Get Free Report) last posted its quarterly earnings data on Monday, July 31st. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.76 by $0.04. The firm had revenue of $121.13 million during the quarter, compared to the consensus estimate of $126.11 million. NBT Bancorp had a return on equity of 12.53% and a net margin of 24.02%. As a group, research analysts anticipate that NBT Bancorp Inc. will post 3.09 EPS for the current year.

NBT Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, August 31st. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 3.68%. NBT Bancorp’s dividend payout ratio is currently 39.75%.

About NBT Bancorp

(Free Report)

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 commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; and residential real estate loans.