NBT Bancorp (NASDAQ:NBTB) Upgraded at DA Davidson

DA Davidson upgraded shares of NBT Bancorp (NASDAQ:NBTB - Free Report) to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

A number of other research firms have also recently weighed in on NBTB. Keefe, Bruyette & Woods raised their price target on NBT Bancorp from $50.00 to $55.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com raised NBT Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday. Finally, Stephens reaffirmed an "equal weight" rating and issued a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.17.

NBT Bancorp Stock Down 0.0 %

NBTB traded down $0.02 during trading hours on Wednesday, hitting $51.66. 207,706 shares of the company's stock were exchanged, compared to its average volume of 203,904. The firm has a market cap of $2.44 billion, a P/E ratio of 18.19 and a beta of 0.52. NBT Bancorp has a 12-month low of $32.79 and a 12-month high of $52.31. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $47.50 and a 200 day moving average of $44.35.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. The business had revenue of $202.00 million for the quarter, compared to analyst estimates 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 in the prior year, the company earned $0.84 earnings per share. Analysts predict that NBT Bancorp will post 2.94 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.63%. The ex-dividend date is Monday, December 2nd. NBT Bancorp's dividend payout ratio (DPR) is 47.89%.

Insider Activity

In related news, EVP Amy Wiles sold 556 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the transaction, the executive vice president now owns 28,909 shares in the company, valued at $1,300,905. The trade was a 1.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy E. Delaney sold 40,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 38,853 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 111,750 shares of company stock valued at $5,390,950. 3.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in NBT Bancorp by 47.9% during the third quarter. GAMMA Investing LLC now owns 778 shares of the bank's stock worth $34,000 after purchasing an additional 252 shares in the last quarter. US Bancorp DE purchased a new position in shares of NBT Bancorp during the 3rd quarter worth approximately $57,000. Quest Partners LLC purchased a new position in shares of NBT Bancorp during the 3rd quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NBT Bancorp in the 3rd quarter valued at approximately $103,000. Finally, AQR Capital Management LLC purchased a new stake in shares of NBT Bancorp in the second quarter valued at approximately $214,000. 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.