Stephens Upgrades NBT Bancorp (NASDAQ:NBTB) to Overweight

Stephens upgraded shares of NBT Bancorp (NASDAQ:NBTB - Free Report) from an equal weight rating to an overweight rating in a report released on Wednesday morning, MarketBeat.com reports. The firm currently has $53.00 price target on the bank's stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price on NBT Bancorp from $50.00 to $55.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Finally, DA Davidson assumed coverage on NBT Bancorp in a research note on Thursday, December 12th. They issued a "neutral" rating and a $60.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NBT Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.75.

NBT Bancorp Stock Down 0.1 %

NBTB traded down $0.07 on Wednesday, hitting $47.63. 218,248 shares of the company were exchanged, compared to its average volume of 203,614. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock's fifty day moving average is $48.68 and its 200-day moving average is $47.05. The company has a market cap of $2.25 billion, a PE ratio of 16.09 and a beta of 0.53. NBT Bancorp has a 12 month low of $32.79 and a 12 month high of $52.44.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its earnings results on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter in the prior year, the firm earned $0.72 earnings per share. Equities research analysts predict that NBT Bancorp will post 3.46 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.34 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.36 annualized dividend and a yield of 2.86%. NBT Bancorp's dividend payout ratio (DPR) is presently 45.95%.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 500 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $51.31, for a total transaction of $25,655.00. Following the transaction, the executive vice president now owns 27,409 shares in the company, valued at $1,406,355.79. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy E. Delaney sold 40,000 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the sale, the director now owns 38,853 shares of the company's stock, valued at approximately $1,999,763.91. The trade was a 50.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,694 shares of company stock valued at $3,139,185 in the last ninety days. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in NBT Bancorp by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank's stock valued at $34,000 after buying an additional 252 shares during the period. US Bancorp DE bought a new position in NBT Bancorp in the third quarter valued at approximately $57,000. Quest Partners LLC bought a new position in NBT Bancorp in the third quarter valued at approximately $57,000. Crews Bank & Trust acquired a new position in NBT Bancorp during the fourth quarter valued at approximately $98,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in NBT Bancorp during the third quarter worth $103,000. 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.