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

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

NBTB has been the subject of a number of other reports. Keefe, Bruyette & Woods lifted their price target on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Stephens reaffirmed an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. Finally, DA Davidson started coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.17.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $48.46 on Thursday. NBT Bancorp has a 1-year low of $32.79 and a 1-year high of $52.44. The company has a 50 day moving average of $48.01 and a 200-day moving average of $44.78. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 17.06 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.36% and a net margin of 17.37%. During the same period last year, the firm posted $0.84 EPS. On average, equities analysts forecast that NBT Bancorp will post 2.94 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Amy Wiles sold 500 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the sale, the executive vice president now directly owns 27,409 shares of the company’s stock, valued at $1,406,355.79. This represents a 1.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy E. Delaney sold 40,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were 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 owns 38,853 shares in the company, valued at $1,999,763.91. This represents a 50.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,694 shares of company stock valued at $4,048,185 in the last 90 days. 3.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On NBT Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in NBTB. Fidelity D & D Bancorp Inc. acquired a new stake in NBT Bancorp during the 3rd quarter worth $218,000. Franklin Resources Inc. increased its holdings in shares of NBT Bancorp by 472.1% in the third quarter. Franklin Resources Inc. now owns 74,468 shares of the bank’s stock worth $3,379,000 after acquiring an additional 61,451 shares in the last quarter. Geode Capital Management LLC raised its position in shares of NBT Bancorp by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock worth $49,477,000 after purchasing an additional 10,628 shares during the period. Barclays PLC lifted its holdings in shares of NBT Bancorp by 41.8% during the 3rd quarter. Barclays PLC now owns 91,880 shares of the bank’s stock valued at $4,064,000 after purchasing an additional 27,085 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of NBT Bancorp during the 3rd quarter valued at about $1,278,000. 58.46% of the stock is owned by institutional investors.

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.