BlackRock Amends NBT Bancorp Stake, Signals Continued Confidence
Ticker: NBTB · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 790359
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock's still holding NBT Bancorp, a good sign for the stock.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 23, 2024, indicating its ownership of NBT Bancorp Inc. common stock as of December 31, 2023. This filing, Amendment No. 16, updates their previous disclosures, confirming BlackRock's continued significant, but passive, investment in NBT Bancorp. This matters to investors because BlackRock is a major institutional holder, and their continued stake signals confidence in NBT Bancorp's long-term prospects, potentially influencing other investors.
Why It Matters
BlackRock's consistent, large-scale investment in NBT Bancorp Inc. provides a vote of confidence from a major institutional investor, which can reassure current shareholders and attract new ones.
Risk Assessment
Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate negative risks or significant changes in strategy.
Analyst Insight
An investor should view this as a routine update confirming a major institutional holder's continued, passive interest. It doesn't signal an immediate buy or sell, but rather reinforces the stability of NBT Bancorp's institutional ownership base.
Key Numbers
- 628778102 — CUSIP Number (identifies NBT Bancorp Inc.'s Common Stock)
- 16 — Amendment Number (indicates this is the sixteenth amendment to BlackRock's Schedule 13G filing for NBT Bancorp Inc.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- NBT BANCORP INC (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 23, 2024 (date) — the filing date of the SC 13G/A
- Amendment No: 16 (number) — the specific amendment number of this filing
Forward-Looking Statements
- BlackRock will maintain its significant, passive stake in NBT Bancorp Inc. (BlackRock Inc.) — high confidence, target: December 31, 2024
- NBT Bancorp Inc. will continue to be viewed favorably by institutional investors due to BlackRock's sustained interest. (NBT BANCORP INC) — medium confidence, target: June 30, 2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as stated in the 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 16)' sections.
Who is the reporting person in this filing?
The reporting person is BlackRock Inc., as clearly identified under '(1)Names of reporting persons. BlackRock, Inc.' and in the 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.' section.
What is the subject company of this filing?
The subject company is NBT BANCORP INC, as indicated under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NBT BANCORP INC' and '(Name of Issuer) NBT BANCORP INC'.
What was the 'Date of Event Which Requires Filing of this Statement'?
The date of the event which requires filing of this statement was December 31, 2023, as explicitly stated in the filing.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13d-1(b), as indicated by the '[X] Rule 13d-1(b)' checkbox selection.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding NBT BANCORP INC (NBTB).