NBT Bancorp (NASDAQ:NBTB) Upgraded by StockNews.com to “Hold” Rating

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

Other equities analysts also recently issued research reports about the stock. Stephens reissued an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a research note on Tuesday, September 10th. Raymond James cut NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, NBT Bancorp presently has an average rating of “Hold” and an average price target of $42.60.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $44.56 on Wednesday. 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 has a 52 week low of $32.79 and a 52 week high of $50.83. The stock has a market capitalization of $2.10 billion, a P/E ratio of 15.69 and a beta of 0.49. The stock has a fifty day moving average of $45.22 and a 200-day moving average of $41.76.

NBT Bancorp (NASDAQ:NBTB) last issued 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 return on equity of 9.36% and a net margin of 17.37%. The firm had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. On average, sell-side analysts expect that NBT Bancorp will post 2.89 earnings per share 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. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s payout ratio is 47.89%.

Insider Activity

In other news, Director John H. Watt, Jr. sold 20,000 shares of NBT Bancorp stock in a transaction on Wednesday, October 30th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John H. Watt, Jr. sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the completion of the transaction, the director now directly owns 143,101 shares in the company, valued at $6,503,940.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Amy Wiles sold 556 shares of NBT Bancorp stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the completion of the transaction, the executive vice president now directly owns 28,909 shares in the company, valued at approximately $1,300,905. This represents a 0.00 % decrease in their ownership of the stock. 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.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in NBT Bancorp by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock worth $88,675,000 after buying an additional 46,498 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in shares of NBT Bancorp by 14.9% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after acquiring an additional 107,404 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of NBT Bancorp by 540.2% in the 2nd quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock worth $27,147,000 after acquiring an additional 593,436 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of NBT Bancorp by 36.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock valued at $24,307,000 after purchasing an additional 169,180 shares during the period. Finally, Ceredex Value Advisors LLC boosted its position in shares of NBT Bancorp by 40.9% during the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock valued at $13,680,000 after purchasing an additional 89,800 shares in the last quarter. 58.46% of the stock is owned by 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.