StockNews.com Downgrades NBT Bancorp (NASDAQ:NBTB) to Sell

NBT Bancorp (NASDAQ:NBTB) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Separately, Stephens reissued an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, NBT Bancorp presently has an average rating of “Hold” and an average target price of $42.60.

NBT Bancorp Price Performance

NBTB stock opened at $50.08 on Wednesday. The company’s 50-day moving average price is $46.21 and its two-hundred day moving average price is $43.48. NBT Bancorp has a 12 month low of $32.79 and a 12 month high of $52.31. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.36 billion, a P/E ratio of 17.63 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The business 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 posted $0.84 earnings per share. On average, analysts anticipate that NBT Bancorp will post 2.91 earnings per share for the current fiscal year.

Insider Transactions at NBT Bancorp

In related news, EVP Amy Wiles sold 556 shares of NBT Bancorp 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 sale, the executive vice president now directly owns 28,909 shares in the company, valued at $1,300,905. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director V Daniel Robinson II sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total transaction of $882,000.00. Following the sale, the director now directly owns 517,558 shares in the company, valued at $22,824,307.80. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,556 shares of company stock worth $8,540,290. Corporate insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

Several large investors have recently modified their holdings of NBTB. GAMMA Investing LLC increased its holdings in NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after purchasing an additional 252 shares during the period. US Bancorp DE bought a new stake in shares of NBT Bancorp in the 3rd quarter valued at about $57,000. Quest Partners LLC acquired a new stake in shares of NBT Bancorp in the third quarter valued at about $57,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of NBT Bancorp during the third quarter worth about $103,000. Finally, AQR Capital Management LLC acquired a new position in shares of NBT Bancorp in the second quarter worth approximately $214,000. Institutional investors own 58.46% of the company’s stock.

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.