NBT Bancorp (NASDAQ:NBTB) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of NBT Bancorp (NASDAQ:NBTB) from a hold rating to a sell rating in a report published on Tuesday morning.

Several other brokerages also recently commented on NBTB. Stephens reaffirmed an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. DA Davidson initiated coverage on NBT Bancorp in a report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.80.

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $46.75 on Tuesday. The business has a 50 day moving average of $49.00 and a 200-day moving average of $46.01. The company has a market capitalization of $2.21 billion, a P/E ratio of 16.46 and a beta of 0.53. NBT Bancorp has a 1 year low of $32.79 and a 1 year high of $52.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $202.00 million during the quarter, compared to the consensus estimate 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 earnings per share. On average, equities research analysts predict that NBT Bancorp will post 2.94 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.91%. NBT Bancorp’s payout ratio is currently 47.89%.

Insider Buying and Selling at NBT Bancorp

In related news, EVP Amy Wiles sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $50.10, for a total value of $50,100.00. Following the completion of the sale, the executive vice president now directly owns 27,909 shares of the company’s stock, valued at $1,398,240.90. The trade was a 3.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John H. Watt, Jr. sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total value of $909,000.00. Following the transaction, the director now directly owns 143,101 shares in the company, valued at approximately $6,503,940.45. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,694 shares of company stock valued at $4,048,185. 3.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NBT Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in NBT Bancorp by 540.2% during the 2nd quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock valued at $27,147,000 after purchasing an additional 593,436 shares in the last quarter. Arizona State Retirement System increased its position in shares of NBT Bancorp by 2.0% during the second quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock worth $509,000 after acquiring an additional 258 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of NBT Bancorp by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock worth $88,675,000 after acquiring an additional 46,498 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of NBT Bancorp in the 2nd quarter worth about $1,974,000. Finally, Bradley Foster & Sargent Inc. CT lifted its position in NBT Bancorp by 49.6% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 28,213 shares of the bank’s stock valued at $1,089,000 after acquiring an additional 9,349 shares in the last quarter. Institutional investors own 58.46% of the company’s stock.

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.