Stephens Upgrades NBT Bancorp (NASDAQ:NBTB) to Overweight

NBT Bancorp (NASDAQ:NBTB) was upgraded by equities research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $53.00 price objective on the bank’s stock. Stephens’ price objective points to a potential upside of 11.11% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Finally, DA Davidson began coverage on shares of NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.75.

NBT Bancorp Stock Up 1.4 %

Shares of NASDAQ:NBTB opened at $47.70 on Wednesday. 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 quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $2.25 billion, a PE ratio of 16.80 and a beta of 0.53. The firm has a 50 day simple moving average of $48.77 and a 200 day simple moving average of $47.01.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). 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 $0.72 earnings per share. As a group, research analysts expect that NBT Bancorp will post 2.95 earnings per share for the current year.

Insider Activity at NBT Bancorp

In other news, EVP Amy Wiles sold 1,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $50.10, for a total value of $50,100.00. Following the completion of the sale, the executive vice president now directly owns 27,909 shares in the company, valued at approximately $1,398,240.90. The trade was a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy E. Delaney sold 40,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 38,853 shares in the company, valued at $1,999,763.91. The trade was a 50.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,694 shares of company stock valued at $3,139,185. Insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NBTB. GAMMA Investing LLC lifted its position in shares of NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after purchasing an additional 252 shares during the last quarter. US Bancorp DE bought a new position in NBT Bancorp in the 3rd quarter worth approximately $57,000. Quest Partners LLC acquired a new position in shares of NBT Bancorp during the third quarter worth approximately $57,000. Crews Bank & Trust bought a new stake in shares of NBT Bancorp in the fourth quarter valued at approximately $98,000. Finally, KBC Group NV grew its stake in shares of NBT Bancorp by 47.5% in the fourth quarter. KBC Group NV now owns 2,152 shares of the bank’s stock worth $103,000 after acquiring an additional 693 shares during the last quarter. Institutional investors and hedge funds 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.