NBT Bancorp (NASDAQ:NBTB) Downgraded to “Neutral” Rating by Janney Montgomery Scott

Janney Montgomery Scott lowered shares of NBT Bancorp (NASDAQ:NBTB) from a buy rating to a neutral rating in a research report sent to investors on Monday, Marketbeat Ratings reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of NBT Bancorp in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.67.

NBT Bancorp Stock Down 4.3%

Shares of NASDAQ NBTB opened at $43.66 on Monday. The business has a 50-day moving average of $43.92 and a two-hundred day moving average of $42.73. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 13.23 and a beta of 0.51. NBT Bancorp has a 1 year low of $37.31 and a 1 year high of $47.93. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, January 26th. The bank reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. The firm had revenue of $185.14 million during the quarter, compared to analysts’ expectations of $183.63 million. NBT Bancorp had a return on equity of 10.86% and a net margin of 18.67%. On average, analysts forecast that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.4%. NBT Bancorp’s dividend payout ratio (DPR) is 44.85%.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director Timothy E. Delaney bought 22,730 shares of NBT Bancorp stock in a transaction dated Wednesday, January 28th. The stock was acquired at an average cost of $42.97 per share, with a total value of $976,708.10. Following the completion of the acquisition, the director owned 74,615 shares of the company’s stock, valued at approximately $3,206,206.55. This represents a 43.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Amy Wiles sold 4,435 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $45.72, for a total transaction of $202,768.20. Following the sale, the executive vice president owned 21,500 shares of the company’s stock, valued at $982,980. This trade represents a 17.10% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.03% of the stock is owned by corporate insiders.

Institutional Trading of NBT Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its stake in shares of NBT Bancorp by 1,645.9% in 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 last quarter. Hantz Financial Services Inc. acquired a new stake in shares of NBT Bancorp during the second quarter worth $33,000. Larson Financial Group LLC lifted its holdings in shares of NBT Bancorp by 13,316.7% during the third quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after purchasing an additional 799 shares during the period. Flagship Wealth Advisors LLC purchased a new position in NBT Bancorp in the 3rd quarter valued at $42,000. Finally, Global Retirement Partners LLC increased its stake in NBT Bancorp by 62.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock valued at $43,000 after buying an additional 399 shares during the period. 58.46% of the stock is owned by hedge funds and other institutional investors.

About NBT Bancorp

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.