1,829 Shares in NBT Bancorp Inc. (NASDAQ:NBTB) Purchased by Rialto Wealth Management LLC

Rialto Wealth Management LLC bought a new stake in NBT Bancorp Inc. (NASDAQ:NBTB) in the fourth quarter, HoldingsChannel.com reports. The fund bought 1,829 shares of the bank’s stock, valued at approximately $87,000.

Other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in NBT Bancorp during the 4th quarter valued at approximately $23,651,000. Assenagon Asset Management S.A. acquired a new stake in NBT Bancorp in the 4th quarter valued at approximately $12,007,000. Eagle Asset Management Inc. raised its stake in NBT Bancorp by 76.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after acquiring an additional 163,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in NBT Bancorp by 55.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock worth $9,946,000 after acquiring an additional 80,232 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of NBT Bancorp by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock worth $32,632,000 after purchasing an additional 75,693 shares in the last quarter. 58.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Sarah A. Halliday sold 5,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the sale, the executive vice president now owns 25,564 shares in the company, valued at $1,238,575.80. This represents a 16.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the sale, the executive vice president now directly owns 27,409 shares of the company’s stock, valued at approximately $1,406,355.79. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,694 shares of company stock valued at $277,935. 3.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price objective on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson started coverage on NBT Bancorp in a research report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 target price for the company. Finally, StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NBT Bancorp has an average rating of “Moderate Buy” and a consensus target price of $51.75.

NBT Bancorp Stock Performance

Shares of NBTB opened at $44.34 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s 50 day moving average is $47.33 and its 200-day moving average is $47.23. NBT Bancorp Inc. has a 12-month low of $32.79 and a 12-month high of $52.44. The stock has a market capitalization of $2.10 billion, a P/E ratio of 14.98 and a beta of 0.48.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same quarter last year, the business posted $0.72 earnings per share. Equities research analysts anticipate that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, March 3rd. NBT Bancorp’s dividend payout ratio is 45.95%.

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 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.