Victory Capital Management Inc. Sells 86,876 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Victory Capital Management Inc. lessened its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 12.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 616,410 shares of the bank's stock after selling 86,876 shares during the quarter. Victory Capital Management Inc. owned 1.31% of NBT Bancorp worth $27,264,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank's stock valued at $34,000 after purchasing an additional 252 shares during the period. US Bancorp DE acquired a new stake in shares of NBT Bancorp during the third quarter worth approximately $57,000. SG Americas Securities LLC acquired a new stake in NBT Bancorp during the first quarter valued at $178,000. Focused Wealth Management Inc acquired a new stake in NBT Bancorp in the third quarter valued at approximately $217,000. Finally, Ascent Wealth Partners LLC bought a new stake in shares of NBT Bancorp during the 3rd quarter worth about $218,000. Institutional investors and hedge funds own 58.46% of the company's stock.

Analyst Upgrades and Downgrades

NBTB has been the topic of a number of research reports. Stephens restated an "equal weight" rating and set a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. StockNews.com raised NBT Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, October 30th. Finally, Raymond James downgraded shares of NBT Bancorp from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $42.60.

Insider Buying and Selling at NBT Bancorp

In other news, EVP Amy Wiles sold 556 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $25,020.00. Following the completion of the transaction, the executive vice president now directly owns 28,909 shares of the company's stock, valued at $1,300,905. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director V Daniel Robinson II sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the transaction, the director now owns 517,558 shares in the company, valued at $22,824,307.80. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 172,556 shares of company stock valued at $8,039,690. 3.32% of the stock is currently owned by company insiders.

NBT Bancorp Price Performance

Shares of NBTB traded down $0.33 during mid-day trading on Monday, reaching $48.93. 127,093 shares of the stock traded hands, compared to its average volume of 205,621. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 17.35 and a beta of 0.49. NBT Bancorp Inc. has a 1 year low of $32.79 and a 1 year high of $51.93. The firm has a fifty day moving average price of $45.35 and a 200 day moving average price of $42.78. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The company 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 last year, the firm earned $0.84 EPS. As a group, equities research analysts predict that NBT Bancorp Inc. will post 2.91 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.78%. NBT Bancorp's dividend payout ratio (DPR) is 47.89%.

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.