NBT Bancorp (NASDAQ:NBTB) Upgraded to “Hold” 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 Thursday morning.

Several other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods boosted their target price on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Stephens restated an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a report on Tuesday, September 10th. Finally, DA Davidson began coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 target price for the company. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.17.

NBT Bancorp Stock Down 0.4 %

Shares of NBT Bancorp stock opened at $48.27 on Thursday. The company’s 50 day moving average price is $48.20 and its 200-day moving average price is $44.83. NBT Bancorp has a 52-week low of $32.79 and a 52-week high of $52.44. 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 has a market capitalization of $2.28 billion, a price-to-earnings ratio of 17.00 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period in the prior year, the firm posted $0.84 earnings per share. Equities research analysts forecast that NBT Bancorp will post 2.94 EPS for the current year.

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.34 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.82%. NBT Bancorp’s dividend payout ratio (DPR) is currently 47.89%.

Insiders Place Their Bets

In other news, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $51.31, for a total transaction of $25,655.00. Following the completion of the transaction, the executive vice president now directly owns 27,409 shares in the company, valued at $1,406,355.79. This trade represents a 1.79 % 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, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the completion of the transaction, the director now owns 38,853 shares in the company, valued at approximately $1,999,763.91. The trade was a 50.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,694 shares of company stock worth $4,048,185. 3.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NBT Bancorp

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after acquiring an additional 252 shares during the last quarter. Arizona State Retirement System raised its stake in NBT Bancorp by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock valued at $509,000 after buying an additional 258 shares during the last quarter. Inspire Investing LLC raised its stake in NBT Bancorp by 3.7% during the 3rd quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock valued at $415,000 after buying an additional 331 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of NBT Bancorp by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock valued at $915,000 after buying an additional 400 shares during the period. Finally, US Bancorp DE purchased a new position in shares of NBT Bancorp in the 3rd quarter worth $57,000. 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.