Victory Capital Management Inc. Buys 50,152 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Victory Capital Management Inc. boosted its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 8.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 666,562 shares of the bank’s stock after buying an additional 50,152 shares during the quarter. Victory Capital Management Inc.’s holdings in NBT Bancorp were worth $31,835,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in NBT Bancorp by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 595,349 shares of the bank’s stock worth $28,434,000 after buying an additional 9,713 shares during the period. Smartleaf Asset Management LLC boosted its stake in NBT Bancorp by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank’s stock worth $132,000 after buying an additional 597 shares during the period. US Bancorp DE boosted its stake in NBT Bancorp by 42.0% during the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock worth $88,000 after buying an additional 543 shares during the period. Bank of New York Mellon Corp boosted its stake in NBT Bancorp by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock worth $32,632,000 after buying an additional 75,693 shares during the period. Finally, First National Bank & Trust Co. of Newtown purchased a new position in NBT Bancorp during the fourth quarter worth $202,000. 58.46% of the stock is currently owned by institutional investors.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, Director Heidi M. Hoeller bought 678 shares of NBT Bancorp stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $48.45 per share, with a total value of $32,849.10. Following the purchase, the director now directly owns 6,437 shares in the company, valued at $311,872.65. This represents a 11.77 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Amy Wiles sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the transaction, the executive vice president now directly owns 27,409 shares of the company’s stock, valued at approximately $1,406,355.79. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,694 shares of company stock valued at $277,935 in the last three months. 3.32% of the stock is currently owned by company insiders.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $44.34 on Monday. The company has a market capitalization of $2.10 billion, a PE ratio of 14.98 and a beta of 0.48. 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 company has a 50-day simple moving average of $47.33 and a two-hundred day simple moving average of $47.24. NBT Bancorp Inc. has a one year low of $32.79 and a one year high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, January 27th. The bank reported $0.77 EPS 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 period in the previous year, the business posted $0.72 earnings per share. Research analysts expect that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Monday, March 3rd. NBT Bancorp’s payout ratio is 45.95%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective 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. DA Davidson started coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective for the company. StockNews.com lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Finally, Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.75.

NBT Bancorp 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.