NBT Bancorp (NASDAQ:NBTB) Cut to Sell at StockNews.com

StockNews.com cut shares of NBT Bancorp (NASDAQ:NBTB) from a hold rating to a sell rating in a research note published on Thursday.

Other analysts have also recently issued reports about the stock. DA Davidson initiated coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price objective for the company. 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 report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.80.

NBT Bancorp Trading Up 1.5 %

NBT Bancorp stock opened at $47.86 on Thursday. NBT Bancorp has a one year low of $32.79 and a one year high of $52.44. The company’s fifty day moving average price is $49.05 and its two-hundred day moving average price is $46.53. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 16.85 and a beta of 0.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating 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 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. On average, analysts forecast that NBT Bancorp will post 2.95 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.84%. NBT Bancorp’s dividend payout ratio is currently 47.89%.

Insider Activity

In other NBT Bancorp news, Director John H. Watt, Jr. sold 20,000 shares of NBT Bancorp 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 directly owns 143,101 shares of the company’s stock, valued at approximately $6,503,940.45. The trade was a 12.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 38,853 shares in the company, valued at approximately $1,999,763.91. This represents 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 have sold 81,694 shares of company stock worth $4,048,185. Company insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

Several institutional investors have recently bought and sold shares of NBTB. Assenagon Asset Management S.A. bought a new position in shares of NBT Bancorp during the fourth quarter valued at $12,007,000. Eagle Asset Management Inc. increased its holdings in NBT Bancorp by 76.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after purchasing an additional 163,952 shares in 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. Ceredex Value Advisors LLC grew its holdings in shares of NBT Bancorp by 40.9% during the third quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock worth $13,680,000 after purchasing an additional 89,800 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of NBT Bancorp by 55.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock valued at $9,946,000 after buying an additional 80,232 shares in the last quarter. 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.