NBT Bancorp (NASDAQ:NBTB) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of NBT Bancorp (NASDAQ:NBTB) from a sell rating to a hold rating in a report released on Wednesday morning.

A number of other equities analysts also recently issued reports on NBTB. Stephens reiterated an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a research note on Tuesday, September 10th. Raymond James downgraded NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.60.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB opened at $44.56 on Wednesday. NBT Bancorp has a twelve month low of $32.79 and a twelve month high of $50.83. The stock’s 50 day moving average is $45.22 and its 200-day moving average is $41.76. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 15.69 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $202.00 million for 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 firm earned $0.84 earnings per share. Sell-side analysts forecast that NBT Bancorp will post 2.89 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.34 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.05%. NBT Bancorp’s payout ratio is presently 47.89%.

Insider Activity

In related news, EVP Martin Randolph Sparks sold 1,000 shares of NBT Bancorp stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total transaction of $48,370.00. Following the sale, the executive vice president now directly owns 15,003 shares in the company, valued at approximately $725,695.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Amy Wiles sold 556 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 28,909 shares in the company, valued at $1,300,905. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Martin Randolph Sparks sold 1,000 shares of NBT Bancorp stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total transaction of $48,370.00. Following the completion of the sale, the executive vice president now directly owns 15,003 shares in the company, valued at $725,695.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,556 shares of company stock valued at $5,436,790 over the last three months. Corporate insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after acquiring an additional 252 shares during the period. Arizona State Retirement System boosted its position in 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 purchasing an additional 258 shares during the period. Inspire Investing LLC increased its stake in shares of NBT Bancorp by 3.7% in the third quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock worth $415,000 after purchasing an additional 331 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of NBT Bancorp by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock valued at $915,000 after purchasing an additional 400 shares during the period. Finally, Texas Permanent School Fund Corp lifted its stake in shares of NBT Bancorp by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 41,211 shares of the bank’s stock valued at $1,512,000 after buying an additional 534 shares in the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

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.