Stephens Reaffirms “Equal Weight” Rating for NBT Bancorp (NASDAQ:NBTB)

Stephens reaffirmed their equal weight rating on shares of NBT Bancorp (NASDAQ:NBTB) in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a $49.00 target price on the bank’s stock.

Separately, Raymond James lowered shares of NBT Bancorp from an outperform rating to a market perform rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, NBT Bancorp currently has an average rating of Hold and an average target price of $42.60.

NBT Bancorp Stock Up 1.8 %

Shares of NASDAQ:NBTB opened at $44.83 on Tuesday. The firm has a market cap of $2.11 billion, a P/E ratio of 17.31 and a beta of 0.50. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 12 month low of $30.31 and a 12 month high of $50.83. The company’s 50-day moving average price is $45.86 and its two-hundred day moving average price is $39.38.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, July 22nd. The bank reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). The business had revenue of $194.00 million during the quarter, compared to the consensus estimate of $139.02 million. NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. During the same period last year, the business posted $0.80 EPS. As a group, research analysts forecast that NBT Bancorp will post 2.86 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.34 per share. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Friday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is 52.51%.

Insiders Place Their Bets

In other NBT Bancorp news, EVP Martin Randolph Sparks sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total transaction of $882,000.00. Following the sale, the director now directly owns 517,558 shares in the company, valued at approximately $22,824,307.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Martin Randolph Sparks sold 1,000 shares of the firm’s 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 sale, the executive vice president now owns 15,003 shares in the company, valued at $725,695.11. The disclosure for this sale can be found here. Corporate insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Deprince Race & Zollo Inc. raised its holdings in shares of NBT Bancorp by 14.9% in the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock valued at $31,978,000 after purchasing an additional 107,404 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of NBT Bancorp in the second quarter valued at approximately $214,000. Public Sector Pension Investment Board raised its holdings in shares of NBT Bancorp by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 103,705 shares of the bank’s stock valued at $4,003,000 after purchasing an additional 7,183 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in shares of NBT Bancorp by 49.6% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 28,213 shares of the bank’s stock valued at $1,089,000 after purchasing an additional 9,349 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of NBT Bancorp in the second quarter valued at approximately $1,974,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

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.