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

StockNews.com downgraded shares of NBT Bancorp (NASDAQ:NBTB) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

Separately, Stephens reiterated an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $42.60.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $50.12 on Wednesday. The business has a 50 day simple moving average of $46.30 and a 200 day simple moving average of $43.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $2.36 billion, a PE ratio of 17.65 and a beta of 0.49. NBT Bancorp has a one year low of $32.79 and a one year high of $52.31.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share (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 company had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. During the same period last year, the business earned $0.84 earnings per share. On average, sell-side analysts forecast that NBT Bancorp will post 2.91 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s dividend payout ratio is currently 47.89%.

Insider Buying and Selling

In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total value of $882,000.00. Following the transaction, the director now owns 517,558 shares of the company’s stock, valued at approximately $22,824,307.80. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Martin Randolph Sparks sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the transaction, the executive vice president now owns 15,003 shares of the company’s stock, valued at $725,695.11. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,556 shares of company stock worth $8,540,290 in the last quarter. Insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

A number of hedge funds have recently modified their holdings of NBTB. GAMMA Investing LLC grew its holdings in NBT Bancorp by 47.9% during the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after purchasing an additional 252 shares during the period. US Bancorp DE bought a new position in shares of NBT Bancorp during the third quarter worth $57,000. Quest Partners LLC acquired a new position in shares of NBT Bancorp in the 3rd quarter valued at $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of NBT Bancorp in the 3rd quarter valued at $103,000. Finally, AQR Capital Management LLC bought a new stake in shares of NBT Bancorp in the 2nd quarter valued at $214,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

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.