Rialto Wealth Management LLC Buys Shares of 1,829 NBT Bancorp Inc. (NASDAQ:NBTB)

Rialto Wealth Management LLC purchased a new position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,829 shares of the bank’s stock, valued at approximately $87,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NBTB. Lisanti Capital Growth LLC boosted its position in NBT Bancorp by 53.0% during the fourth quarter. Lisanti Capital Growth LLC now owns 66,035 shares of the bank’s stock worth $3,154,000 after acquiring an additional 22,865 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of NBT Bancorp in the 4th quarter valued at $23,651,000. Victory Capital Management Inc. grew its stake in shares of NBT Bancorp by 8.1% during the 4th quarter. Victory Capital Management Inc. now owns 666,562 shares of the bank’s stock valued at $31,835,000 after buying an additional 50,152 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of NBT Bancorp by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 595,349 shares of the bank’s stock worth $28,434,000 after buying an additional 9,713 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of NBT Bancorp by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank’s stock worth $132,000 after buying an additional 597 shares during the period. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

NBT Bancorp Stock Down 0.5 %

NASDAQ NBTB opened at $44.34 on Friday. The stock has a market cap of $2.10 billion, a PE ratio of 14.98 and a beta of 0.48. The business has a 50 day moving average price of $47.33 and a two-hundred day moving average price of $47.23. NBT Bancorp Inc. has a fifty-two week low of $32.79 and a fifty-two week high of $52.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter last year, the business earned $0.72 EPS. As a group, sell-side analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Monday, March 3rd. NBT Bancorp’s dividend payout ratio (DPR) is 45.95%.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 500 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $51.31, for a total transaction of $25,655.00. Following the transaction, the executive vice president now directly owns 27,409 shares in the company, valued at $1,406,355.79. This represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sarah A. Halliday sold 5,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $48.45, for a total transaction of $242,250.00. Following the transaction, the executive vice president now directly owns 25,564 shares of the company’s stock, valued at approximately $1,238,575.80. This represents a 16.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,694 shares of company stock valued at $277,935. Insiders own 3.32% of the company’s stock.

Analyst Upgrades and Downgrades

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

About NBT Bancorp

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.