NBT Bancorp (NASDAQ:NBTB) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of NBT Bancorp (NASDAQ:NBTB) from a sell rating to a hold rating in a report issued on Monday.

NBTB has been the subject of several other reports. Hovde Group assumed coverage on NBT Bancorp in a report on Friday, March 21st. They issued a “market perform” rating and a $50.00 price objective for the company. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research report on Wednesday, January 29th. Finally, DA Davidson dropped their target price on shares of NBT Bancorp from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $52.75.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $43.07 on Monday. NBT Bancorp has a 12 month low of $34.47 and a 12 month high of $52.44. 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 company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 14.55 and a beta of 0.58. The stock’s 50 day moving average is $42.27 and its 200-day moving average is $46.07.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. The business had revenue of $155.31 million for the quarter, compared to analyst estimates of $151.00 million. During the same period last year, the firm earned $0.68 earnings per share. Equities research analysts expect that NBT Bancorp will post 3.69 EPS for the current year.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, EVP Sarah A. Halliday sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the transaction, the executive vice president now directly owns 25,564 shares in the company, valued at approximately $1,238,575.80. This represents a 16.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Heidi M. Hoeller purchased 678 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $48.45 per share, for a total transaction of $32,849.10. Following the acquisition, the director now owns 6,437 shares of the company’s stock, valued at $311,872.65. This trade represents a 11.77 % increase in their position. The disclosure for this purchase can be found here. 3.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. TD Private Client Wealth LLC increased its stake in shares of NBT Bancorp by 51.3% in the first quarter. TD Private Client Wealth LLC now owns 867 shares of the bank’s stock valued at $37,000 after buying an additional 294 shares during the period. GAMMA Investing LLC increased its position in NBT Bancorp by 66.5% during the 4th quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock valued at $62,000 after purchasing an additional 517 shares during the period. Sterling Capital Management LLC lifted its position in shares of NBT Bancorp by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank’s stock worth $69,000 after purchasing an additional 1,292 shares during the period. Cloud Capital Management LLC acquired a new stake in shares of NBT Bancorp during the first quarter worth $68,000. Finally, Rialto Wealth Management LLC acquired a new position in NBT Bancorp in the fourth quarter valued at $87,000. 58.46% of the stock is owned by institutional investors.

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.