Deprince Race & Zollo Inc. Sells 137,771 Shares of NBT Bancorp Inc. $NBTB

Deprince Race & Zollo Inc. lessened its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 18.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 610,841 shares of the bank’s stock after selling 137,771 shares during the period. Deprince Race & Zollo Inc.’s holdings in NBT Bancorp were worth $25,509,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of NBTB. EverSource Wealth Advisors LLC lifted its holdings in shares of NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after purchasing an additional 609 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in NBT Bancorp during the second quarter worth $33,000. Farther Finance Advisors LLC lifted its stake in shares of NBT Bancorp by 2,902.1% in the second quarter. Farther Finance Advisors LLC now owns 1,441 shares of the bank’s stock valued at $60,000 after buying an additional 1,393 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of NBT Bancorp by 38.9% during the second quarter. GAMMA Investing LLC now owns 1,951 shares of the bank’s stock valued at $81,000 after buying an additional 546 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of NBT Bancorp by 23.0% during the second quarter. Smartleaf Asset Management LLC now owns 3,316 shares of the bank’s stock worth $139,000 after acquiring an additional 620 shares in the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $42.71 on Friday. The business’s 50 day simple moving average is $41.77 and its 200 day simple moving average is $42.14. NBT Bancorp Inc. has a 12 month low of $37.31 and a 12 month high of $49.43. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 14.24 and a beta of 0.51. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.10.

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

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.48 annualized dividend and a yield of 3.5%. NBT Bancorp’s dividend payout ratio is 49.33%.

Insiders Place Their Bets

In other NBT Bancorp news, Director Timothy E. Delaney bought 10,000 shares of NBT Bancorp stock in a transaction dated Thursday, November 6th. The stock was purchased at an average price of $40.98 per share, for a total transaction of $409,800.00. Following the completion of the purchase, the director directly owned 51,885 shares of the company’s stock, valued at approximately $2,126,247.30. This trade represents a 23.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 3.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NBTB shares. Janney Montgomery Scott raised shares of NBT Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. Piper Sandler set a $47.00 target price on NBT Bancorp and gave the company an “overweight” rating in a report on Tuesday, October 14th. DA Davidson cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NBT Bancorp in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.25.

NBT Bancorp 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.