NBT Bancorp (NASDAQ:NBTB) Rating Increased to Overweight at Stephens

NBT Bancorp (NASDAQ:NBTB) was upgraded by research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report released on Wednesday, MarketBeat.com reports. The brokerage presently has a $53.00 target price on the bank’s stock. Stephens’ price objective points to a potential upside of 11.11% from the stock’s current price.

A number of other research analysts have also commented on NBTB. Keefe, Bruyette & Woods increased their price objective on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Finally, DA Davidson began coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NBT Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $47.70 on Wednesday. The firm has a market capitalization of $2.25 billion, a P/E ratio of 16.80 and a beta of 0.53. The stock has a fifty day moving average price of $48.77 and a two-hundred day moving average price of $47.01. 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 current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same period in the prior year, the firm posted $0.72 EPS. As a group, analysts anticipate that NBT Bancorp will post 2.95 EPS for the current fiscal year.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 1,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $50.10, for a total value of $50,100.00. Following the completion of the sale, the executive vice president now directly owns 27,909 shares in the company, valued at $1,398,240.90. This represents a 3.46 % 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 John H. Watt, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.40, for a total value of $494,000.00. Following the completion of the transaction, the director now owns 125,301 shares of the company’s stock, valued at $6,189,869.40. This represents a 7.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,694 shares of company stock valued at $3,139,185. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in NBTB. Eagle Asset Management Inc. increased its holdings in NBT Bancorp by 76.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock worth $16,759,000 after purchasing an additional 163,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of NBT Bancorp by 55.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock worth $9,946,000 after buying an additional 80,232 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in NBT Bancorp in the 3rd quarter valued at approximately $439,000. Barclays PLC lifted its stake in NBT Bancorp by 41.8% in the 3rd quarter. Barclays PLC now owns 91,880 shares of the bank’s stock valued at $4,064,000 after acquiring an additional 27,085 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position 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 acquiring an additional 10,628 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

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.