NBT Bancorp (NASDAQ:NBTB) Upgraded to “Hold” at StockNews.com

NBT Bancorp (NASDAQ:NBTB) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

NBTB has been the subject of a number of other reports. Keefe, Bruyette & Woods boosted their price objective on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Stephens reiterated an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.80.

NBT Bancorp Stock Up 1.4 %

NASDAQ:NBTB traded up $0.71 during trading hours on Tuesday, reaching $50.97. The company’s stock had a trading volume of 242,724 shares, compared to its average volume of 202,727. NBT Bancorp has a one year low of $32.79 and a one year high of $52.31. The business’s 50-day moving average is $47.14 and its 200-day moving average is $44.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 17.95 and a beta of 0.52.

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. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The business had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. During the same quarter in the prior year, the firm posted $0.84 EPS. Equities research analysts predict that NBT Bancorp will post 2.94 EPS for the current year.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the transaction, the director now owns 38,853 shares of the company’s stock, valued at $1,999,763.91. This represents a 50.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total value of $882,000.00. Following the sale, the director now directly owns 517,558 shares in the company, valued at $22,824,307.80. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,556 shares of company stock worth $8,540,290 in the last ninety days. 3.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. Fidelity D & D Bancorp Inc. acquired a new stake in NBT Bancorp during the third quarter valued at approximately $218,000. Franklin Resources Inc. lifted its position in shares of NBT Bancorp by 472.1% during the 3rd quarter. Franklin Resources Inc. now owns 74,468 shares of the bank’s stock worth $3,379,000 after buying an additional 61,451 shares during the period. Geode Capital Management LLC boosted its stake in NBT Bancorp by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after buying an additional 10,628 shares in the last quarter. Barclays PLC grew its position in NBT Bancorp by 41.8% in the third quarter. Barclays PLC now owns 91,880 shares of the bank’s stock valued at $4,064,000 after acquiring an additional 27,085 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in NBT Bancorp during the third quarter worth $1,278,000. 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.