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

NBT Bancorp (NASDAQ:NBTB) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

A number of other analysts have also issued reports on NBTB. Stephens reaffirmed an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. DA Davidson started coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.80.

NBT Bancorp Stock Performance

NBTB stock traded down $0.73 during midday trading on Tuesday, hitting $46.75. 245,819 shares of the company traded hands, compared to its average volume of 183,055. The business has a 50 day simple moving average of $49.00 and a 200-day simple moving average of $46.01. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a twelve month low of $32.79 and a twelve month high of $52.44. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 16.46 and a beta of 0.53.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The firm had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. During the same quarter last year, the firm posted $0.84 EPS. As a group, equities research analysts predict that NBT Bancorp will post 2.94 earnings per share for the current year.

Insider Buying and Selling at NBT Bancorp

In other news, EVP Amy Wiles sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $50.10, for a total value of $50,100.00. Following the completion of the transaction, the executive vice president now directly owns 27,909 shares of the company’s stock, valued at approximately $1,398,240.90. This represents a 3.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John H. Watt, Jr. sold 20,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total value of $909,000.00. Following the completion of the sale, the director now directly owns 143,101 shares in the company, valued at approximately $6,503,940.45. This represents a 12.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,694 shares of company stock valued at $4,048,185 in the last 90 days. 3.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NBT Bancorp

Large investors have recently made changes to their positions in the company. Eagle Asset Management Inc. boosted its position in NBT Bancorp by 76.3% in the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after buying an additional 163,952 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of NBT Bancorp in the 3rd quarter worth approximately $439,000. Barclays PLC grew its position in NBT Bancorp by 41.8% during the 3rd quarter. Barclays PLC now owns 91,880 shares of the bank’s stock worth $4,064,000 after acquiring an additional 27,085 shares during the last quarter. Edgestream Partners L.P. bought a new stake in NBT Bancorp during the 2nd quarter worth approximately $1,974,000. Finally, Geode Capital Management LLC increased its holdings in NBT Bancorp by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after purchasing an additional 10,628 shares in the last quarter. 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.