Victory Capital Management Inc. Lowers Holdings in NBT Bancorp Inc. (NASDAQ:NBTB)

Victory Capital Management Inc. lowered its position in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 12.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 616,410 shares of the bank’s stock after selling 86,876 shares during the period. Victory Capital Management Inc.’s holdings in NBT Bancorp were worth $27,264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in NBT Bancorp by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock valued at $88,675,000 after purchasing an additional 46,498 shares during the period. Deprince Race & Zollo Inc. increased its holdings in NBT Bancorp by 14.9% during the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock valued at $31,978,000 after buying an additional 107,404 shares during the period. Bank of New York Mellon Corp raised its stake in NBT Bancorp by 36.7% in the second quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock worth $24,307,000 after buying an additional 169,180 shares in the last quarter. Ceredex Value Advisors LLC lifted its holdings in NBT Bancorp by 40.9% during the third quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock worth $13,680,000 after buying an additional 89,800 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in NBT Bancorp by 3.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 144,642 shares of the bank’s stock valued at $6,398,000 after acquiring an additional 5,235 shares in the last quarter. 58.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NBT Bancorp news, EVP Amy Wiles sold 1,000 shares of NBT Bancorp stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $50.10, for a total transaction of $50,100.00. Following the completion of the transaction, the executive vice president now owns 27,909 shares in the company, valued at approximately $1,398,240.90. This trade represents a 3.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy E. Delaney sold 40,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the transaction, the director now directly owns 38,853 shares of the company’s stock, valued at approximately $1,999,763.91. This trade represents a 50.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,556 shares of company stock valued at $7,545,690 over the last quarter. 3.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stephens reissued an “equal weight” rating and issued a $49.00 price target on shares of NBT Bancorp in a research report on Tuesday, September 10th. Raymond James downgraded shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Finally, StockNews.com raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.60.

NBT Bancorp Price Performance

Shares of NBTB stock opened at $49.26 on Monday. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 17.35 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s 50-day simple moving average is $45.35 and its 200-day simple moving average is $42.73. NBT Bancorp Inc. has a fifty-two week low of $32.79 and a fifty-two week high of $51.93.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same quarter in the prior year, the business posted $0.84 EPS. As a group, equities analysts forecast that NBT Bancorp Inc. will post 2.91 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is 47.89%.

NBT Bancorp Company Profile

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.