NBT Bancorp (NASDAQ:NBTB) Rating Lowered to Sell at StockNews.com

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

Several other equities research analysts also recently weighed in on NBTB. Hovde Group started coverage on shares of NBT Bancorp in a research note on Friday, March 21st. They set a “market perform” rating and a $50.00 target price for the company. Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a research note on Wednesday, January 29th. Finally, DA Davidson decreased their target price on shares of NBT Bancorp from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, NBT Bancorp has a consensus rating of “Hold” and a consensus price target of $52.75.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $44.80 on Tuesday. 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 1 year low of $34.47 and a 1 year high of $52.44. The company has a market capitalization of $2.12 billion, a PE ratio of 15.14 and a beta of 0.58. The company has a fifty day moving average of $41.95 and a two-hundred day moving average of $46.04.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.04. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. The business had revenue of $155.31 million during the quarter, compared to the consensus estimate of $151.00 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. As a group, analysts expect that NBT Bancorp will post 3.69 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Heidi M. Hoeller purchased 2,588 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $42.88 per share, with a total value of $110,973.44. Following the completion of the acquisition, the director now directly owns 11,578 shares of the company’s stock, valued at approximately $496,464.64. This trade represents a 28.79% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its holdings in NBT Bancorp by 51.3% during the first quarter. TD Private Client Wealth LLC now owns 867 shares of the bank’s stock worth $37,000 after purchasing an additional 294 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in NBT Bancorp by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,815 shares of the bank’s stock worth $230,000 after purchasing an additional 310 shares in the last quarter. Bank of Montreal Can increased its holdings in NBT Bancorp by 6.8% in the fourth quarter. Bank of Montreal Can now owns 7,278 shares of the bank’s stock valued at $348,000 after buying an additional 461 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in NBT Bancorp by 1.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,218 shares of the bank’s stock valued at $1,425,000 after buying an additional 496 shares in the last quarter. Finally, US Bancorp DE increased its holdings in NBT Bancorp by 42.0% in the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock valued at $88,000 after buying an additional 543 shares in the last quarter. 58.46% of the stock is owned by hedge funds and other 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.