Victory Capital Management Inc. Sells 2,565 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Victory Capital Management Inc. trimmed its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 12.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,789 shares of the bank’s stock after selling 2,565 shares during the quarter. Victory Capital Management Inc.’s holdings in NBT Bancorp were worth $746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp boosted its stake in shares of NBT Bancorp by 5.7% in the 3rd quarter. Northern Trust Corp now owns 741,141 shares of the bank’s stock valued at $23,487,000 after purchasing an additional 39,912 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of NBT Bancorp by 11.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 504,681 shares of the bank’s stock valued at $15,993,000 after purchasing an additional 51,671 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of NBT Bancorp during the 4th quarter valued at about $989,000. Graham Capital Management L.P. acquired a new stake in NBT Bancorp during the third quarter worth approximately $676,000. Finally, HighTower Advisors LLC bought a new stake in NBT Bancorp in the third quarter worth approximately $855,000. 58.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NBTB shares. Piper Sandler decreased their price target on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Keefe, Bruyette & Woods lowered their target price on NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of NBT Bancorp in a research report on Tuesday, April 23rd. Finally, Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, NBT Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $41.20.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB opened at $38.08 on Thursday. The company has a market capitalization of $1.80 billion, a P/E ratio of 14.70 and a beta of 0.52. The company’s 50-day moving average is $35.71 and its 200 day moving average is $36.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86. NBT Bancorp Inc. has a fifty-two week low of $30.31 and a fifty-two week high of $43.77.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. The company had revenue of $192.33 million during the quarter, compared to analyst estimates of $135.01 million. During the same quarter last year, the business posted $0.88 EPS. On average, equities research analysts forecast that NBT Bancorp Inc. will post 2.82 earnings per share for the current year.

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.