NBT Bancorp (NASDAQ:NBTB) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of NBT Bancorp (NASDAQ:NBTB) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

Separately, Stephens reissued an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a research report on Tuesday, September 10th. 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 a consensus target price of $42.60.

NBT Bancorp Price Performance

NASDAQ:NBTB opened at $50.08 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s 50-day simple moving average is $46.13 and its 200 day simple moving average is $43.44. The company has a market cap of $2.36 billion, a P/E ratio of 17.63 and a beta of 0.49. NBT Bancorp has a 52-week low of $32.79 and a 52-week high of $52.31.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same quarter in the previous year, the business earned $0.84 earnings per share. As a group, sell-side analysts forecast that NBT Bancorp will post 2.91 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s dividend payout ratio is presently 47.89%.

Insider Transactions at NBT Bancorp

In other news, EVP Amy Wiles sold 556 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $25,020.00. Following the completion of the sale, the executive vice president now owns 28,909 shares in the company, valued at $1,300,905. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director V Daniel Robinson II sold 20,000 shares of the business’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 value of $882,000.00. Following the completion of the sale, the director now owns 517,558 shares of the company’s stock, valued at approximately $22,824,307.80. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,556 shares of company stock worth $8,540,290 over the last quarter. Company insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its stake in shares of NBT Bancorp by 472.1% in the third quarter. Franklin Resources Inc. now owns 74,468 shares of the bank’s stock valued at $3,379,000 after buying an additional 61,451 shares during the period. Geode Capital Management LLC boosted its stake in shares of NBT Bancorp by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after buying an additional 10,628 shares during the period. Barclays PLC boosted its stake in shares of NBT Bancorp by 41.8% in the third quarter. Barclays PLC now owns 91,880 shares of the bank’s stock valued at $4,064,000 after buying an additional 27,085 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of NBT Bancorp in the third quarter valued at approximately $1,278,000. Finally, HighTower Advisors LLC bought a new stake in NBT Bancorp during the third quarter worth $235,000. 58.46% of the stock is currently 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.