DA Davidson Begins Coverage on NBT Bancorp (NASDAQ:NBTB)

Equities researchers at DA Davidson began coverage on shares of NBT Bancorp (NASDAQ:NBTB) in a report issued on Thursday,Benzinga reports. The brokerage set a “neutral” rating and a $60.00 price target on the bank’s stock. DA Davidson’s price objective suggests a potential upside of 16.14% from the stock’s current price.

A number of other research analysts have also commented on NBTB. StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their target price on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Stephens reiterated an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NBT Bancorp has an average rating of “Moderate Buy” and a consensus target price of $48.17.

NBT Bancorp Stock Performance

Shares of NBTB opened at $51.66 on Thursday. 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 stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 18.19 and a beta of 0.52. NBT Bancorp has a 52-week low of $32.79 and a 52-week high of $52.31. The stock’s 50-day simple moving average is $47.50 and its 200 day simple moving average is $44.35.

NBT Bancorp (NASDAQ:NBTB) last released 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 company had revenue of $202.00 million during the quarter, compared to analyst estimates 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 last year, the business earned $0.84 earnings per share. Research analysts forecast that NBT Bancorp will post 2.94 EPS for the current fiscal year.

Insider Activity at NBT Bancorp

In related news, Director Timothy E. Delaney sold 40,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the transaction, the director now owns 38,853 shares of the company’s stock, valued at approximately $1,999,763.91. This trade represents a 50.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director V Daniel Robinson II sold 30,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $44.78, for a total transaction of $1,343,400.00. Following the completion of the sale, the director now directly owns 387,558 shares of the company’s stock, valued at $17,354,847.24. This represents a 7.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,750 shares of company stock valued at $5,390,950. Corporate insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Fidelity D & D Bancorp Inc. bought a new position in NBT Bancorp during the 3rd quarter worth approximately $218,000. Franklin Resources Inc. boosted its stake in shares of NBT Bancorp by 472.1% during the third quarter. Franklin Resources Inc. now owns 74,468 shares of the bank’s stock valued at $3,379,000 after purchasing an additional 61,451 shares during the period. Geode Capital Management LLC increased its stake in shares of NBT Bancorp by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock worth $49,477,000 after buying an additional 10,628 shares during the period. Barclays PLC increased its stake in shares of NBT Bancorp by 41.8% in the third quarter. Barclays PLC now owns 91,880 shares of the bank’s stock worth $4,064,000 after buying an additional 27,085 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in NBT Bancorp during the 3rd quarter valued at $1,278,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company 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.