Mutual of America Capital Management LLC Has $314,000 Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Mutual of America Capital Management LLC cut its position in NBT Bancorp Inc. (NASDAQ:NBTB) by 8.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,095 shares of the bank’s stock after selling 655 shares during the quarter. Mutual of America Capital Management LLC’s holdings in NBT Bancorp were worth $314,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NBTB. Victory Capital Management Inc. grew its stake in shares of NBT Bancorp by 540.2% in the 2nd quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock valued at $27,147,000 after buying an additional 593,436 shares during the period. Bank of New York Mellon Corp grew its stake in shares of NBT Bancorp by 36.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock valued at $24,307,000 after buying an additional 169,180 shares during the period. Deprince Race & Zollo Inc. grew its stake in shares of NBT Bancorp by 14.9% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock valued at $31,978,000 after buying an additional 107,404 shares during the period. Ceredex Value Advisors LLC grew its stake in shares of NBT Bancorp by 40.9% in the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock valued at $13,680,000 after buying an additional 89,800 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of NBT Bancorp in the 2nd quarter valued at about $1,974,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Price Performance

NBTB stock opened at $50.08 on Friday. NBT Bancorp Inc. has a 52-week low of $32.79 and a 52-week high of $52.31. The business has a 50-day simple moving average of $46.21 and a two-hundred day simple moving average of $43.48. 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 market capitalization of $2.36 billion, a P/E ratio of 17.63 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The firm had revenue of $202.00 million for the quarter, compared to analysts’ expectations of $144.70 million. During the same quarter last year, the firm earned $0.84 EPS. Research analysts expect that NBT Bancorp Inc. will post 2.91 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.36 annualized dividend and a dividend yield of 2.72%. NBT Bancorp’s dividend payout ratio is currently 47.89%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Stephens reiterated an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a research note on Tuesday, September 10th. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, NBT Bancorp currently has an average rating of “Hold” and an average target price of $42.60.

Insiders Place Their Bets

In related news, Director Timothy E. Delaney sold 40,000 shares of NBT Bancorp stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the sale, the director now owns 38,853 shares of the company’s stock, valued at approximately $1,999,763.91. The trade was a 50.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Martin Randolph Sparks sold 1,000 shares of NBT Bancorp stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total transaction of $48,370.00. Following the completion of the sale, the executive vice president now directly owns 15,003 shares in the company, valued at $725,695.11. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,556 shares of company stock valued at $8,540,290 in the last 90 days. 3.32% of the stock is currently owned by corporate insiders.

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.