Victory Capital Management Inc. Buys 31,317 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Victory Capital Management Inc. boosted its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) by 4.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 697,879 shares of the bank's stock after acquiring an additional 31,317 shares during the quarter. Victory Capital Management Inc. owned 1.48% of NBT Bancorp worth $29,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. TD Private Client Wealth LLC lifted its position in shares of NBT Bancorp by 51.3% in the first quarter. TD Private Client Wealth LLC now owns 867 shares of the bank's stock worth $37,000 after buying an additional 294 shares in the last quarter. Cloud Capital Management LLC purchased a new position in NBT Bancorp in the 1st quarter valued at about $68,000. Sterling Capital Management LLC increased its holdings in NBT Bancorp by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock valued at $69,000 after purchasing an additional 1,292 shares during the last quarter. KBC Group NV raised its position in NBT Bancorp by 28.4% in the first quarter. KBC Group NV now owns 2,763 shares of the bank's stock valued at $119,000 after purchasing an additional 611 shares during the period. Finally, Cibc World Markets Corp acquired a new position in shares of NBT Bancorp during the fourth quarter worth $206,000. Hedge funds and other institutional investors own 58.46% of the company's stock.

Insider Buying and Selling at NBT Bancorp

In related news, Director Heidi M. Hoeller purchased 2,588 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of $42.88 per share, with a total value of $110,973.44. Following the acquisition, the director directly owned 11,578 shares in the company, valued at $496,464.64. The trade was a 28.79% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John H. Watt, Jr. sold 7,869 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total transaction of $330,655.38. Following the completion of the transaction, the director directly owned 116,027 shares in the company, valued at approximately $4,875,454.54. The trade was a 6.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 5,491 shares of company stock valued at $235,674. Insiders own 3.03% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on NBTB. Wall Street Zen lowered shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Piper Sandler upgraded shares of NBT Bancorp to a "neutral" rating and set a $47.00 target price on the stock in a report on Tuesday, July 8th. Finally, DA Davidson cut their price target on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, NBT Bancorp has a consensus rating of "Hold" and an average price target of $51.60.

NBT Bancorp Stock Down 0.7%

Shares of NASDAQ:NBTB traded down $0.30 during midday trading on Thursday, hitting $42.13. The stock had a trading volume of 30,758 shares, compared to its average volume of 245,792. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.15. The business's 50-day simple moving average is $42.25 and its 200-day simple moving average is $43.71. NBT Bancorp Inc. has a 12 month low of $37.31 and a 12 month high of $52.44. The company has a market cap of $1.99 billion, a P/E ratio of 13.96 and a beta of 0.57.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. NBT Bancorp had a return on equity of 9.57% and a net margin of 17.99%. The firm had revenue of $155.31 million during the quarter, compared to the consensus estimate of $151.00 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. On average, sell-side analysts forecast that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.23%. The ex-dividend date was Monday, June 2nd. NBT Bancorp's dividend payout ratio (DPR) is presently 45.03%.

About NBT Bancorp

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.