NBT Bancorp (NASDAQ:NBTB) Upgraded to “Hold” at 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 research note issued to investors on Wednesday.

Several other research analysts also recently weighed in on the stock. Raymond James downgraded shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Stephens reiterated an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. 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, the company presently has an average rating of “Hold” and a consensus price target of $42.60.

NBT Bancorp Stock Up 0.4 %

Shares of NBTB traded up $0.18 during trading on Wednesday, reaching $45.47. The company’s stock had a trading volume of 258,098 shares, compared to its average volume of 203,540. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 17.62 and a beta of 0.50. The company has a fifty day moving average of $45.37 and a two-hundred day moving average of $41.58. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a twelve month low of $32.79 and a twelve month high of $50.83.

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 firm had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, sell-side analysts predict that NBT Bancorp will post 2.86 EPS for the current fiscal year.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, EVP Martin Randolph Sparks sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the sale, the executive vice president now owns 15,003 shares in the company, valued at $725,695.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Martin Randolph Sparks sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was 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 owns 15,003 shares of the company’s stock, valued at $725,695.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Amy Wiles sold 556 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $25,020.00. Following the completion of the sale, the executive vice president now owns 28,909 shares in the company, valued at approximately $1,300,905. 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 90 days, insiders sold 101,556 shares of company stock valued at $4,527,790. Corporate insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NBTB. GAMMA Investing LLC raised its stake in NBT Bancorp by 47.9% during the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after buying an additional 252 shares during the last quarter. US Bancorp DE bought a new position in shares of NBT Bancorp in the 3rd quarter worth about $57,000. SG Americas Securities LLC bought a new position in shares of NBT Bancorp in the 1st quarter worth about $178,000. AQR Capital Management LLC acquired a new position in shares of NBT Bancorp in the 2nd quarter valued at about $214,000. Finally, Focused Wealth Management Inc bought a new stake in shares of NBT Bancorp during the 3rd quarter valued at about $217,000. 58.46% of the stock is owned by institutional investors and hedge funds.

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.