NBT BANCORP INC
In the published model solve dated 2026-Q2, anchored at $53.20, NBT BANCORP INC (NBTB) is priced for 11.5% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
NBT Bancorp is an upstate New York regional bank, about 90% banking and 10% retirement-plan administration. The earnings trajectory is improving: the most recent quarter delivered net income of $51.1 million and diluted EPS of $0.98, up from $0.77 a year earlier, with the net interest margin rising to 3.72% as funding costs fell faster than asset yields. A bank is worth the return it earns on its capital, so the price is read off book value. At $46.74 the stock trades around 1.3x book, implying
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289 institutional managers reported holding NBTB in 13F filings for the quarter ended 2026-03-31. Together they hold about 63% of the company; the top 10 hold 44%. 40 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 1.5M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (4.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
NBTB's share count grew 19.9% over the past five years even with $52.95M spent on repurchases. It pays a dividend, and has paid one every year in our records (17 and counting), raised 14 years straight; the current rate is $1.42 a share annually. Cash returned over the past three years: $184.24M in dividends and $23.62M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at NBTB over the trailing three years: 2023: 2 buys totaling $39k; 2024: 2 buys totaling $71k; 2025: 8 buys totaling $849k; 2026: 1 buy totaling $977k. 21 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
NBTB's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-08 | -1.1% | -10.8% |
| 2023-11-10 | +4.3% | +16.0% |
| 2024-03-01 | -7.0% | +7.4% |
| 2024-05-10 | +1.8% | +10.3% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
NBTB's latest 8-K filings: 2026-07-27 (items 2.02, 9.01); 2026-05-19 (items 5.07, 7.01, 9.01); 2026-05-18 (items 7.01); 2026-05-04 (items 7.01); 2026-04-23 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.