NBT Bancorp (NASDAQ:NBTB) Stock Rating Lowered by StockNews.com

NBT Bancorp (NASDAQ:NBTB - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Thursday.

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. DA Davidson initiated coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They issued a "neutral" rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $48.80.

NBT Bancorp Trading Down 1.0 %

Shares of NBTB traded down $0.46 during mid-day trading on Thursday, reaching $47.16. The company had a trading volume of 306,646 shares, compared to its average volume of 194,945. NBT Bancorp has a fifty-two week low of $32.79 and a fifty-two week high of $52.44. The firm has a fifty day simple moving average of $49.09 and a 200-day simple moving average of $46.41. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 16.61 and a beta of 0.53. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. The firm had revenue of $202.00 million for the quarter, compared to analysts' expectations of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same quarter last year, the firm earned $0.84 earnings per share. On average, sell-side analysts anticipate that NBT Bancorp will post 2.95 EPS for the current fiscal year.

Insider Activity

In related news, Director Timothy E. Delaney sold 40,000 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $51.47, for a total value of $2,058,800.00. Following the transaction, the director now owns 38,853 shares in the company, valued at approximately $1,999,763.91. The trade was a 50.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John H. Watt, Jr. sold 20,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total value of $909,000.00. Following the completion of the transaction, the director now directly owns 143,101 shares of the company's stock, valued at $6,503,940.45. This represents a 12.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,694 shares of company stock worth $4,048,185 over the last 90 days. Company insiders own 3.32% of the company's stock.

Institutional Trading of NBT Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. acquired a new position in NBT Bancorp during the 4th quarter worth $12,007,000. Eagle Asset Management Inc. increased its holdings in NBT Bancorp by 76.3% in the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank's stock valued at $16,759,000 after buying an additional 163,952 shares during the last quarter. Deprince Race & Zollo Inc. increased its holdings in NBT Bancorp by 14.9% in the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank's stock valued at $31,978,000 after buying an additional 107,404 shares during the last quarter. Ceredex Value Advisors LLC raised its stake in NBT Bancorp by 40.9% during the third quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank's stock valued at $13,680,000 after buying an additional 89,800 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in NBT Bancorp by 55.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank's stock worth $9,946,000 after buying an additional 80,232 shares during the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

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.