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

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

Several other equities analysts have also weighed in on NBTB. DA Davidson initiated coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price on the stock. Keefe, Bruyette & Woods raised their price objective 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.80.

NBT Bancorp Stock Up 1.5 %

Shares of NBT Bancorp stock opened at $47.86 on Thursday. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 16.85 and a beta of 0.53. The stock has a 50-day simple moving average of $49.05 and a 200-day simple moving average of $46.47. 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 posted its earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The company 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 previous year, the firm posted $0.84 earnings per share. On average, equities research analysts expect that NBT Bancorp will post 2.95 earnings per share for the current fiscal year.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $51.31, for a total value of $25,655.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack H. Webb sold 10,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $50.06, for a total transaction of $500,600.00. Following the transaction, the director now owns 45,018 shares in the company, valued at approximately $2,253,601.08. The trade was a 18.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,694 shares of company stock valued at $4,048,185 in the last 90 days. 3.32% of the stock is currently owned by insiders.

Institutional Trading of NBT Bancorp

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of NBT Bancorp by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock valued at $88,675,000 after purchasing an additional 46,498 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of NBT Bancorp by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after buying an additional 10,628 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of NBT Bancorp by 14.9% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after acquiring an additional 107,404 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of NBT Bancorp by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 585,636 shares of the bank’s stock valued at $25,903,000 after acquiring an additional 7,294 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its position in shares of NBT Bancorp by 76.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after acquiring an additional 163,952 shares in the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

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.