NBT Bancorp’s (NBTB) Hold (C+) Rating Reaffirmed at Weiss Ratings

NBT Bancorp (NASDAQ:NBTB)‘s stock had its “hold (c+)” rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Several other equities research analysts have also commented on the stock. DA Davidson lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Wall Street Zen raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Piper Sandler set a $47.00 target price on shares of NBT Bancorp and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $52.00.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $40.92 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 stock has a market cap of $2.14 billion, a price-to-earnings ratio of 14.77 and a beta of 0.54. The company’s fifty day moving average is $42.46 and its 200 day moving average is $42.15. NBT Bancorp has a twelve month low of $37.31 and a twelve 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, beating analysts’ consensus estimates of $0.82 by $0.06. NBT Bancorp had a net margin of 16.10% and a return on equity of 9.81%. The business had revenue of $171.15 million for the quarter, compared to analysts’ expectations of $171.04 million. Sell-side analysts forecast that NBT Bancorp will post 3.69 EPS for the current year.

Insider Buying and Selling

In related news, Director David J. Nasca sold 19,603 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $43.42, for a total transaction of $851,162.26. Following the sale, the director owned 82,910 shares of the company’s stock, valued at $3,599,952.20. The trade was a 19.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.03% of the stock is owned by insiders.

Hedge Funds Weigh In On NBT Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of NBTB. EverSource Wealth Advisors LLC increased its position in NBT Bancorp by 1,645.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after purchasing an additional 609 shares during the period. Hantz Financial Services Inc. purchased a new position in NBT Bancorp during the 2nd quarter valued at about $33,000. TD Private Client Wealth LLC increased its position in NBT Bancorp by 51.3% during the 1st quarter. TD Private Client Wealth LLC now owns 867 shares of the bank’s stock valued at $37,000 after purchasing an additional 294 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of NBT Bancorp by 2,902.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,441 shares of the bank’s stock valued at $60,000 after buying an additional 1,393 shares in the last quarter. Finally, Cloud Capital Management LLC bought a new stake in shares of NBT Bancorp in the 1st quarter valued at about $68,000. Institutional investors own 58.46% of the company’s stock.

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.