Aigen Investment Management LP Purchases New Shares in NBT Bancorp Inc. $NBTB

Aigen Investment Management LP purchased a new stake in NBT Bancorp Inc. (NASDAQ:NBTB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,829 shares of the bank’s stock, valued at approximately $574,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp raised its position in NBT Bancorp by 7.8% in the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after buying an additional 182,793 shares during the last quarter. Dimensional Fund Advisors LP raised its position in NBT Bancorp by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,834 shares of the bank’s stock valued at $95,531,000 after buying an additional 8,044 shares during the last quarter. Victory Capital Management Inc. raised its position in NBT Bancorp by 2.0% in the 4th quarter. Victory Capital Management Inc. now owns 663,092 shares of the bank’s stock valued at $27,532,000 after buying an additional 12,967 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in NBT Bancorp by 63.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock valued at $18,741,000 after buying an additional 174,639 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in NBT Bancorp by 26.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock valued at $13,986,000 after buying an additional 70,594 shares during the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Heidi M. Hoeller sold 2,100 shares of NBT Bancorp stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $48.03, for a total value of $100,863.00. Following the completion of the sale, the director owned 11,560 shares of the company’s stock, valued at approximately $555,226.80. This trade represents a 15.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ruth H. Mahoney sold 5,000 shares of NBT Bancorp stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $46.60, for a total value of $233,000.00. Following the completion of the sale, the executive vice president directly owned 16,428 shares of the company’s stock, valued at approximately $765,544.80. This trade represents a 23.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.99% of the company’s stock.

Analyst Ratings Changes

NBTB has been the subject of a number of analyst reports. Hovde Group lowered their price target on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research report on Monday, April 27th. Brean Capital lowered NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Janney Montgomery Scott lowered NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Finally, Piper Sandler began coverage on NBT Bancorp in a research report on Monday, March 16th. They set an “overweight” rating and a $50.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.

NBT Bancorp Trading Down 1.6%

Shares of NBT Bancorp stock opened at $47.41 on Tuesday. NBT Bancorp Inc. has a 1 year low of $39.19 and a 1 year high of $48.81. The firm has a market cap of $2.47 billion, a PE ratio of 13.51 and a beta of 0.49. The stock has a fifty day moving average price of $45.36 and a 200-day moving average price of $43.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. The business had revenue of $184.48 million for the quarter, compared to analysts’ expectations of $185.36 million. Equities research analysts anticipate that NBT Bancorp Inc. will post 4.15 EPS for the current year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.48 annualized dividend and a yield of 3.1%. NBT Bancorp’s dividend payout ratio (DPR) is 42.17%.

NBT Bancorp Company 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.