NBT Bancorp (NASDAQ:NBTB) Upgraded at StockNews.com

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

Other research analysts have also issued reports about the company. Stephens reissued an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. Keefe, Bruyette & Woods increased their price objective on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.80.

NBT Bancorp Stock Performance

Shares of NBTB opened at $50.97 on Tuesday. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 17.95 and a beta of 0.52. NBT Bancorp has a 12 month low of $32.79 and a 12 month high of $52.31. The firm has a fifty day simple moving average of $47.14 and a 200 day simple moving average of $44.25. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share 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 for the quarter, compared to analyst estimates of $144.70 million. During the same quarter in the previous year, the firm earned $0.84 EPS. Research analysts forecast that NBT Bancorp will post 2.94 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. The ex-dividend date is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.67%. NBT Bancorp’s payout ratio is currently 47.89%.

Insider Activity at NBT Bancorp

In related news, EVP Amy Wiles sold 556 shares of the business’s stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jack H. Webb sold 10,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $50.06, for a total value of $500,600.00. Following the completion of the transaction, the director now owns 45,018 shares of the company’s stock, valued at $2,253,601.08. This represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,556 shares of company stock valued at $7,658,290. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of 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 purchasing an additional 46,498 shares during the period. Geode Capital Management LLC lifted 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 worth $49,477,000 after buying an additional 10,628 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in NBT Bancorp by 14.9% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after buying an additional 107,404 shares during the period. Victory Capital Management Inc. increased its stake in shares of NBT Bancorp by 540.2% in the second quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock valued at $27,147,000 after buying an additional 593,436 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of NBT Bancorp by 36.7% during the second quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock worth $24,307,000 after acquiring an additional 169,180 shares during the last quarter. 58.46% of the stock is 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.