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

StockNews.com upgraded shares of NBT Bancorp (NASDAQ:NBTB - Free Report) from a sell rating to a hold rating in a report issued on Thursday morning.

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

NBT Bancorp Price Performance

NBT Bancorp stock traded down $0.19 during trading hours on Thursday, reaching $48.27. 314,954 shares of the stock were exchanged, compared to its average volume of 208,308. The stock has a 50 day moving average of $48.11 and a two-hundred day moving average of $44.80. 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 has a twelve month low of $32.79 and a twelve month high of $52.44. The company has a market cap of $2.28 billion, a P/E ratio of 17.00 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The business had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. During the same period last year, the business posted $0.84 earnings per share. Equities analysts expect that NBT Bancorp will post 2.94 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.36 annualized dividend and a yield of 2.82%. NBT Bancorp's payout ratio is presently 47.89%.

Insider Transactions at NBT Bancorp

In related news, Director John H. Watt, Jr. sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the sale, the director now owns 143,101 shares of the company's stock, valued at $6,503,940.45. This represents a 12.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Amy Wiles sold 1,000 shares of NBT Bancorp stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $50.10, for a total value of $50,100.00. Following the transaction, the executive vice president now directly owns 27,909 shares in the company, valued at $1,398,240.90. The trade was a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,694 shares of company stock worth $4,048,185 in the last 90 days. 3.32% of the stock is owned by insiders.

Institutional Trading of NBT Bancorp

A number of hedge funds have recently bought and sold shares of NBTB. Dimensional Fund Advisors LP boosted its position in shares of NBT Bancorp by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank's stock worth $88,675,000 after purchasing an additional 46,498 shares in the last quarter. Geode Capital Management LLC increased its position in shares of NBT Bancorp by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank's stock valued at $49,477,000 after purchasing an additional 10,628 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in NBT Bancorp by 14.9% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank's stock valued at $31,978,000 after purchasing an additional 107,404 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of NBT Bancorp by 540.2% in the second quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank's stock valued at $27,147,000 after acquiring an additional 593,436 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in NBT Bancorp by 36.7% during the second quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank's stock worth $24,307,000 after buying an additional 169,180 shares in the last quarter. Hedge funds and other institutional investors 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.