Joseph P. Lucia & Associates LLC Invests $4.50 Million in NBT Bancorp Inc. (NASDAQ:NBTB)

Joseph P. Lucia & Associates LLC bought a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 165,465 shares of the bank’s stock, valued at approximately $4,500,000. Joseph P. Lucia & Associates LLC owned approximately 0.38% of NBT Bancorp as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NBTB. Comerica Bank lifted its holdings in shares of NBT Bancorp by 0.7% in the 4th quarter. Comerica Bank now owns 42,456 shares of the bank’s stock worth $1,534,000 after acquiring an additional 282 shares during the last quarter. Piedmont Investment Advisors Inc. increased its stake in NBT Bancorp by 3.4% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 10,373 shares of the bank’s stock worth $359,000 after buying an additional 337 shares during the period. LPL Financial LLC increased its stake in NBT Bancorp by 4.9% during the 4th quarter. LPL Financial LLC now owns 7,776 shares of the bank’s stock worth $269,000 after buying an additional 361 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in NBT Bancorp by 23.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,053 shares of the bank’s stock worth $106,000 after buying an additional 570 shares during the period. Finally, Victory Capital Management Inc. increased its stake in NBT Bancorp by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 18,568 shares of the bank’s stock worth $642,000 after buying an additional 724 shares during the period. 54.51% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on NBTB shares. Zacks Investment Research raised shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Friday, April 26th. BidaskClub raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th.

Shares of NASDAQ:NBTB traded up $0.06 during trading hours on Wednesday, reaching $37.26. The stock had a trading volume of 78,300 shares, compared to its average volume of 89,180. NBT Bancorp Inc. has a 1 year low of $30.36 and a 1 year high of $41.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.64 billion, a PE ratio of 14.55 and a beta of 0.87.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.03. NBT Bancorp had a net margin of 24.00% and a return on equity of 11.50%. The company had revenue of $111.51 million for the quarter, compared to the consensus estimate of $112.00 million. During the same period in the prior year, the firm posted $0.59 EPS. As a group, equities research analysts expect that NBT Bancorp Inc. will post 2.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Thursday, May 30th. NBT Bancorp’s dividend payout ratio is presently 40.63%.

In other NBT Bancorp news, CFO Michael J. Chewens sold 5,103 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $37.69, for a total value of $192,332.07. Following the sale, the chief financial officer now directly owns 54,704 shares of the company’s stock, valued at approximately $2,061,793.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.29% of the company’s stock.

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NBT Bancorp Profile

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, direct loans, mortgages, business banking loans, and commercial loans; and residential real estate loans, as well as development loans.

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Institutional Ownership by Quarter for NBT Bancorp (NASDAQ:NBTB)

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