NBT Bancorp (NASDAQ:NBTB) Stock Rating Upgraded by DA Davidson

NBT Bancorp (NASDAQ:NBTB) was upgraded by equities researchers at DA Davidson to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday. Keefe, Bruyette & Woods increased 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. Finally, Stephens reissued an “equal weight” rating and set a $49.00 price objective on shares of NBT Bancorp in a report on Tuesday, September 10th. Four investment 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, the company currently has an average rating of “Moderate Buy” and an average target price of $48.17.

NBT Bancorp Trading Up 0.2 %

Shares of NBT Bancorp stock opened at $51.68 on Wednesday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 18.20 and a beta of 0.52. The business has a 50-day moving average price of $47.50 and a 200-day moving average price of $44.35. The company has a quick ratio of 0.87, a current 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 $52.31.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The company had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. During the same quarter in the prior year, the firm posted $0.84 EPS. Equities research analysts anticipate that NBT Bancorp will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director V Daniel Robinson II sold 30,000 shares of NBT Bancorp stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $44.78, for a total value of $1,343,400.00. Following the transaction, the director now directly owns 387,558 shares in the company, valued at approximately $17,354,847.24. This trade represents a 7.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $25,020.00. Following the transaction, the executive vice president now owns 28,909 shares in the company, valued at approximately $1,300,905. This trade represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,556 shares of company stock valued at $5,380,920 in the last 90 days. Company insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake 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 during the period. Arizona State Retirement System raised its stake in NBT Bancorp by 2.0% during the second quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock worth $509,000 after acquiring an additional 258 shares during the period. Inspire Investing LLC increased its position in NBT Bancorp by 3.7% in the third quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock worth $415,000 after buying an additional 331 shares during the period. Louisiana State Employees Retirement System lifted its position in NBT Bancorp by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock valued at $915,000 after purchasing an additional 400 shares during the last quarter. Finally, US Bancorp DE acquired a new position in NBT Bancorp during the 3rd quarter valued at about $57,000. 58.46% of the stock is currently 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.