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

NBT Bancorp (NASDAQ:NBTB) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Separately, Stephens reissued an “equal weight” rating and issued a $49.00 price target on shares of NBT Bancorp in a 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 assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.60.

NBT Bancorp Price Performance

NASDAQ:NBTB traded down $0.04 during trading hours on Wednesday, hitting $50.08. The stock had a trading volume of 107,117 shares, compared to its average volume of 203,956. The company has a 50 day simple moving average of $46.13 and a two-hundred day simple moving average of $43.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. NBT Bancorp has a one year low of $32.79 and a one year high of $52.31. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 17.63 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last announced 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 firm had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. During the same period last year, the firm earned $0.84 EPS. Research analysts forecast that NBT Bancorp will post 2.91 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Amy Wiles sold 556 shares of NBT Bancorp stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $25,020.00. Following the transaction, the executive vice president now owns 28,909 shares in the company, valued at $1,300,905. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director V Daniel Robinson II sold 50,000 shares of NBT Bancorp stock in a transaction on Friday, September 13th. The stock was sold at an average price of $44.58, for a total transaction of $2,229,000.00. Following the completion of the transaction, the director now owns 417,558 shares in the company, valued at approximately $18,614,735.64. The trade was a 10.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 182,556 shares of company stock worth $8,540,290. 3.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NBT Bancorp

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in NBT Bancorp by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after purchasing an additional 252 shares during the period. US Bancorp DE purchased a new position in NBT Bancorp in the 3rd quarter worth $57,000. Quest Partners LLC purchased a new position in NBT Bancorp in the 3rd quarter worth $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in NBT Bancorp in the 3rd quarter worth $103,000. Finally, Focused Wealth Management Inc purchased a new position in NBT Bancorp in the 3rd quarter worth $217,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

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.