Victory Capital Management Inc. Raises Stock Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Victory Capital Management Inc. increased its stake in NBT Bancorp Inc. (NASDAQ:NBTB) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 666,562 shares of the bank’s stock after purchasing an additional 50,152 shares during the quarter. Victory Capital Management Inc. owned 1.41% of NBT Bancorp worth $31,835,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. boosted its holdings in NBT Bancorp by 76.3% in the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock worth $16,759,000 after purchasing an additional 163,952 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in NBT Bancorp by 55.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock worth $9,946,000 after purchasing an additional 80,232 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in NBT Bancorp in the third quarter worth approximately $439,000. Barclays PLC boosted its holdings in NBT Bancorp by 41.8% in the third quarter. Barclays PLC now owns 91,880 shares of the bank’s stock worth $4,064,000 after purchasing an additional 27,085 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in NBT Bancorp by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock worth $49,477,000 after purchasing an additional 10,628 shares during the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Down 0.5 %

NBTB opened at $44.34 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp Inc. has a fifty-two week low of $32.79 and a fifty-two week high of $52.44. The firm’s fifty day moving average is $47.33 and its 200 day moving average is $47.24. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 14.98 and a beta of 0.48.

NBT Bancorp (NASDAQ:NBTB) last released its 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 in the previous year, the firm posted $0.72 EPS. On average, sell-side analysts forecast that NBT Bancorp Inc. will post 3.69 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, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis 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%.

Wall Street Analysts Forecast Growth

NBTB has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price target 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. StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. 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 research note on Wednesday, January 29th. Finally, DA Davidson initiated coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction on Monday, February 10th. The shares were sold at an average price of $48.45, for a total value of $242,250.00. Following the sale, the executive vice president now directly owns 25,564 shares in the company, valued at approximately $1,238,575.80. The trade was a 16.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Amy Wiles sold 500 shares of NBT Bancorp 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 completion of the sale, the executive vice president now owns 27,409 shares in the company, valued at approximately $1,406,355.79. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,694 shares of company stock worth $277,935. 3.32% of the stock is owned by corporate insiders.

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.