NBT Bancorp (NASDAQ:NBTB) Stock Rating Upgraded by StockNews.com

NBT Bancorp (NASDAQ:NBTB) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other equities analysts have also weighed in on the stock. Stephens restated an “equal weight” rating and set a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. Keefe, Bruyette & Woods raised their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NBT Bancorp currently has an average rating of “Hold” and a consensus target price of $45.80.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB traded up $0.71 during mid-day trading on Tuesday, reaching $50.97. 242,724 shares of the company traded hands, compared to its average volume of 202,727. The firm has a market cap of $2.40 billion, a PE ratio of 17.95 and a beta of 0.52. 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 fifty-two week low of $32.79 and a fifty-two week high of $52.31. The stock has a fifty day simple moving average of $47.14 and a 200-day simple moving average of $44.25.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The company had revenue of $202.00 million for the quarter, compared to analysts’ expectations of $144.70 million. During the same period last year, the firm earned $0.84 EPS. Equities research analysts anticipate that NBT Bancorp will post 2.94 EPS for the current fiscal year.

Insider Activity

In other NBT Bancorp news, Director Timothy E. Delaney sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the completion of the sale, the director now directly owns 38,853 shares in the company, valued at approximately $1,999,763.91. This trade represents a 50.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director V Daniel Robinson II sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total value of $882,000.00. Following the completion of the transaction, the director now owns 517,558 shares in the company, valued at $22,824,307.80. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,556 shares of company stock worth $8,540,290 over the last 90 days. 3.32% of the stock is owned by company insiders.

Institutional Trading of NBT Bancorp

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted 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 buying an additional 252 shares in the last quarter. US Bancorp DE purchased a new stake in shares of NBT Bancorp during the third quarter worth $57,000. Quest Partners LLC acquired a new stake in NBT Bancorp during the third quarter valued at $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in NBT Bancorp in the third quarter valued at about $103,000. Finally, AQR Capital Management LLC purchased a new position in NBT Bancorp in the second quarter valued at about $214,000. 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.