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 research report report published on Wednesday morning.

Several other research firms have also recently commented on NBTB. Stephens reiterated an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. Raymond James downgraded shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, NBT Bancorp presently has an average rating of “Hold” and an average price target of $42.60.

NBT Bancorp Stock Performance

Shares of NBTB stock opened at $44.56 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.86. The company’s fifty day moving average price is $45.22 and its two-hundred day moving average price is $41.70. The firm has a market capitalization of $2.10 billion, a P/E ratio of 15.69 and a beta of 0.50. NBT Bancorp has a 12 month low of $32.79 and a 12 month high of $50.83.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same period in the previous year, the company earned $0.84 earnings per share. On average, research analysts anticipate that NBT Bancorp will post 2.89 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s dividend payout ratio is presently 47.89%.

Insiders Place Their Bets

In other news, EVP Martin Randolph Sparks sold 1,000 shares of NBT Bancorp stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.37, for a total value of $48,370.00. Following the completion of the transaction, the executive vice president now directly owns 15,003 shares of the company’s stock, valued at approximately $725,695.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director V Daniel Robinson II sold 50,000 shares of the company’s 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 directly owns 417,558 shares in the company, valued at $18,614,735.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Martin Randolph Sparks sold 1,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.37, for a total value of $48,370.00. Following the completion of the sale, the executive vice president now owns 15,003 shares in the company, valued at $725,695.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,556 shares of company stock valued at $5,436,790. Company insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

A number of large investors have recently modified their holdings of NBTB. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 252 shares during the period. Arizona State Retirement System grew its holdings in NBT Bancorp by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock worth $509,000 after buying an additional 258 shares in the last quarter. Inspire Investing LLC grew its holdings in NBT Bancorp by 3.7% in the 3rd quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock worth $415,000 after buying an additional 331 shares in the last quarter. Louisiana State Employees Retirement System increased its position in NBT Bancorp by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock valued at $915,000 after acquiring an additional 400 shares during the period. Finally, Texas Permanent School Fund Corp raised its stake in NBT Bancorp by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 41,211 shares of the bank’s stock valued at $1,512,000 after acquiring an additional 534 shares in the last quarter. Institutional investors and hedge funds 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.