NBT Bancorp (NASDAQ:NBTB) Cut to Sell at StockNews.com

StockNews.com cut shares of NBT Bancorp (NASDAQ:NBTB) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Separately, Stephens reiterated an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.60.

NBT Bancorp Stock Down 0.1 %

NASDAQ NBTB opened at $50.08 on Wednesday. The business has a fifty day moving average price of $46.13 and a two-hundred day moving average price of $43.44. 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 has a fifty-two week low of $32.79 and a fifty-two week high of $52.31. The stock 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 announced its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. The company 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 period in the prior year, the business earned $0.84 earnings per share. Equities analysts expect that NBT Bancorp will post 2.91 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.34 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.72%. NBT Bancorp’s payout ratio is 47.89%.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 556 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $25,020.00. Following the sale, the executive vice president now owns 28,909 shares of the company’s stock, valued at approximately $1,300,905. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director V Daniel Robinson II sold 50,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $44.58, for a total transaction of $2,229,000.00. Following the sale, the director now directly owns 417,558 shares in the company, valued at $18,614,735.64. This trade represents a 10.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,556 shares of company stock worth $8,540,290 over the last three months. Company insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

A number of institutional investors have recently bought and sold shares of NBTB. GAMMA Investing LLC boosted its position in NBT Bancorp by 47.9% during the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after acquiring an additional 252 shares during the last quarter. US Bancorp DE bought a new stake in NBT Bancorp during the third quarter valued at $57,000. Quest Partners LLC bought a new stake in NBT Bancorp during the third quarter valued at $57,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of NBT Bancorp during the 3rd quarter worth about $103,000. Finally, AQR Capital Management LLC bought a new position in shares of NBT Bancorp during the 2nd quarter worth about $214,000. 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.