NBT Bancorp (NASDAQ:NBTB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NBT Bancorp (NASDAQ:NBTB) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other analysts have also recently issued reports on NBTB. Piper Sandler upgraded NBT Bancorp to a “neutral” rating and set a $47.00 price objective on the stock in a research report on Tuesday, July 8th. DA Davidson boosted their price objective on NBT Bancorp from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, NBT Bancorp has a consensus rating of “Hold” and a consensus target price of $52.00.

NBT Bancorp Stock Performance

Shares of NASDAQ NBTB opened at $40.99 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $42.05 and its two-hundred day moving average is $43.43. The company has a market cap of $1.94 billion, a P/E ratio of 14.80 and a beta of 0.59. NBT Bancorp has a 12 month low of $37.31 and a 12 month high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, July 28th. The bank reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. The company had revenue of $171.15 million for the quarter, compared to the consensus estimate of $171.04 million. NBT Bancorp had a return on equity of 9.81% and a net margin of 16.10%. On average, equities analysts expect that NBT Bancorp will post 3.69 EPS for the current year.

NBT Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.37 per share. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, August 29th. NBT Bancorp’s dividend payout ratio (DPR) is presently 49.10%.

Insider Activity

In related news, Director John H. Watt, Jr. sold 7,869 shares of the business’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the sale, the director owned 116,027 shares of the company’s stock, valued at $4,875,454.54. The trade was a 6.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.03% of the company’s stock.

Institutional Trading of NBT Bancorp

Several institutional investors have recently bought and sold shares of the stock. Leigh Baldwin & CO. LLC acquired a new stake in NBT Bancorp in the 4th quarter valued at $52,606,000. Silvercrest Asset Management Group LLC acquired a new stake in NBT Bancorp in the 4th quarter valued at $38,978,000. Northern Trust Corp boosted its stake in NBT Bancorp by 4.9% in the 4th quarter. Northern Trust Corp now owns 726,413 shares of the bank’s stock valued at $34,693,000 after buying an additional 33,855 shares in the last quarter. Victory Capital Management Inc. boosted its stake in NBT Bancorp by 4.7% in the 1st quarter. Victory Capital Management Inc. now owns 697,879 shares of the bank’s stock valued at $29,939,000 after buying an additional 31,317 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in NBT Bancorp by 3.6% in the 1st quarter. Raymond James Financial Inc. now owns 513,243 shares of the bank’s stock valued at $22,018,000 after buying an additional 18,035 shares in 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.