Geode Capital Management LLC Purchases 37,002 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Geode Capital Management LLC grew its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 522,568 shares of the bank’s stock after purchasing an additional 37,002 shares during the quarter. Geode Capital Management LLC’s holdings in NBT Bancorp were worth $18,075,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Teachers Advisors LLC grew its stake in NBT Bancorp by 4.5% in the 3rd quarter. Teachers Advisors LLC now owns 83,886 shares of the bank’s stock valued at $3,220,000 after purchasing an additional 3,590 shares during the period. Morgan Stanley grew its stake in NBT Bancorp by 25.9% in the 3rd quarter. Morgan Stanley now owns 213,916 shares of the bank’s stock valued at $8,211,000 after purchasing an additional 43,970 shares during the period. Bank of Montreal Can grew its stake in NBT Bancorp by 58.6% in the 4th quarter. Bank of Montreal Can now owns 3,885 shares of the bank’s stock valued at $135,000 after purchasing an additional 1,436 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in NBT Bancorp by 23.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,053 shares of the bank’s stock valued at $106,000 after purchasing an additional 570 shares during the period. Finally, Rhumbline Advisers grew its stake in NBT Bancorp by 20.2% in the 4th quarter. Rhumbline Advisers now owns 127,835 shares of the bank’s stock valued at $4,422,000 after purchasing an additional 21,478 shares during the period. Hedge funds and other institutional investors own 54.51% of the company’s stock.

Shares of NASDAQ:NBTB opened at $36.63 on Thursday. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 14.31 and a beta of 0.86. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. NBT Bancorp Inc. has a 1 year low of $30.36 and a 1 year high of $41.88.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.04 dividend on an annualized basis and a yield of 2.84%. NBT Bancorp’s dividend payout ratio (DPR) is presently 40.63%.

A number of brokerages have issued reports on NBTB. BidaskClub downgraded NBT Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 26th. Zacks Investment Research downgraded NBT Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th.

In other news, CFO Michael J. Chewens sold 5,103 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $37.69, for a total transaction of $192,332.07. Following the completion of the transaction, the chief financial officer now owns 54,704 shares in the company, valued at approximately $2,061,793.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.29% of the stock is owned by corporate insiders.

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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 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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