Mutual of America Capital Management LLC Cuts Stake in NBT Bancorp Inc. (NASDAQ:NBTB)

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

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after purchasing an additional 252 shares in the last quarter. US Bancorp DE bought a new stake in shares of NBT Bancorp during the third quarter valued at approximately $57,000. Focused Wealth Management Inc bought a new stake in shares of NBT Bancorp during the third quarter valued at approximately $217,000. Ascent Wealth Partners LLC bought a new stake in shares of NBT Bancorp during the third quarter valued at approximately $218,000. Finally, AQR Capital Management LLC bought a new stake in NBT Bancorp during the second quarter worth approximately $214,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Stock Performance

Shares of NBTB 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 company’s 50 day moving average price is $46.21 and its 200 day moving average price is $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 PE ratio of 17.63 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same quarter in the prior year, the firm posted $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 disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s payout ratio is presently 47.89%.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 556 shares of NBT Bancorp stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the completion of the transaction, the executive vice president now owns 28,909 shares in the company, valued at approximately $1,300,905. The trade was a 1.89 % decrease in their position. The sale 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 the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the sale, the executive vice president now owns 15,003 shares of the company’s stock, valued at approximately $725,695.11. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 182,556 shares of company stock valued at $8,540,290. 3.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on NBTB. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Stephens restated an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.60.

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.