StockNews.com Upgrades NBT Bancorp (NASDAQ:NBTB) to Hold

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

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

NBT Bancorp Stock Up 0.2 %

NBTB opened at $44.56 on Wednesday. NBT Bancorp has a one year low of $32.79 and a one year high of $50.83. The stock’s fifty day moving average is $45.22 and its 200-day moving average is $41.70. The company has a market capitalization of $2.10 billion, a PE ratio of 15.69 and a beta of 0.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating 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 business had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, equities analysts predict that NBT Bancorp will post 2.89 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently declared 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director V Daniel Robinson II sold 50,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.58, for a total value of $2,229,000.00. Following the transaction, the director now directly owns 417,558 shares of the company’s stock, valued at $18,614,735.64. This 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. In other NBT Bancorp news, Director V Daniel Robinson II sold 50,000 shares of NBT Bancorp stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.58, for a total value of $2,229,000.00. Following the completion of the sale, the director now directly owns 417,558 shares in the company, valued at $18,614,735.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John H. Watt, Jr. sold 20,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the transaction, the director now owns 143,101 shares in the company, valued at approximately $6,503,940.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,556 shares of company stock valued at $5,436,790. Insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

Several institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its holdings in shares of NBT Bancorp by 51.8% during the 1st quarter. BNP Paribas Financial Markets now owns 22,962 shares of the bank’s stock valued at $842,000 after acquiring an additional 7,831 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in NBT Bancorp by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 41,211 shares of the bank’s stock valued at $1,512,000 after purchasing an additional 534 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of NBT Bancorp in the first quarter valued at approximately $178,000. Inspire Investing LLC lifted its stake in shares of NBT Bancorp by 6.9% in the first quarter. Inspire Investing LLC now owns 9,759 shares of the bank’s stock worth $358,000 after buying an additional 634 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of NBT Bancorp by 978.7% during the 1st quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock worth $3,318,000 after buying an additional 82,071 shares during the period. 58.46% of the stock is currently owned by institutional investors.

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.