NBT Bancorp (NASDAQ:NBTB) Stock Rating Lowered by Stephens

Stephens cut shares of NBT Bancorp (NASDAQ:NBTB) from an overweight rating to an equal weight rating in a report issued on Thursday morning, MarketBeat reports. Stephens currently has $49.00 price objective on the bank’s stock, up from their prior price objective of $42.00.

A number of other research analysts have also weighed in on the company. Keefe, Bruyette & Woods cut their price objective on NBT Bancorp from $41.00 to $39.00 and set a market perform rating for the company in a research report on Wednesday, April 24th. Raymond James lowered NBT Bancorp from an outperform rating to a market perform rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, NBT Bancorp currently has an average rating of Hold and an average target price of $42.60.

NBT Bancorp Price Performance

NASDAQ:NBTB opened at $49.84 on Thursday. 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 business’s 50-day simple moving average is $39.08 and its two-hundred day simple moving average is $36.91. The stock has a market cap of $2.35 billion, a PE ratio of 19.24 and a beta of 0.52. NBT Bancorp has a 52 week low of $30.31 and a 52 week high of $50.83.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The firm had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $139.02 million. NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. During the same quarter in the previous year, the business earned $0.80 EPS. As a group, analysts forecast that NBT Bancorp will post 2.84 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.34 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.36 annualized dividend and a yield of 2.73%. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. NBT Bancorp’s dividend payout ratio (DPR) is currently 52.51%.

Insider Buying and Selling

In related news, EVP Sarah A. Halliday sold 1,325 shares of NBT Bancorp stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $35.66, for a total value of $47,249.50. Following the completion of the transaction, the executive vice president now owns 32,402 shares in the company, valued at $1,155,455.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC purchased a new position in shares of NBT Bancorp during the first quarter valued at approximately $27,000. Blue Trust Inc. boosted its position in shares of NBT Bancorp by 69.9% during the fourth quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after buying an additional 276 shares during the period. Bare Financial Services Inc purchased a new position in shares of NBT Bancorp during the fourth quarter valued at approximately $98,000. Naples Money Management LLC purchased a new position in shares of NBT Bancorp during the fourth quarter valued at approximately $156,000. Finally, Union Savings Bank boosted its position in shares of NBT Bancorp by 4,075.0% during the first quarter. Union Savings Bank now owns 4,843 shares of the bank’s stock valued at $178,000 after buying an additional 4,727 shares during the period. 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.