NBT Bancorp (NASDAQ:NBTB) Upgraded to Overweight at Stephens

Stephens upgraded shares of NBT Bancorp (NASDAQ:NBTB) from an equal weight rating to an overweight rating in a research report released on Wednesday, MarketBeat reports. They currently have $53.00 price target on the bank’s stock.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods boosted 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 note on Wednesday, December 4th. Finally, DA Davidson began coverage on shares of NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NBT Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

NBT Bancorp Stock Performance

NASDAQ:NBTB opened at $47.02 on Wednesday. The firm has a market capitalization of $2.22 billion, a P/E ratio of 16.56 and a beta of 0.53. The company has a fifty day moving average of $48.77 and a 200-day moving average of $47.01. 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 $52.44.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same quarter in the prior year, the business posted $0.72 EPS. As a group, sell-side analysts anticipate that NBT Bancorp will post 2.95 EPS for the current year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Monday, March 3rd. NBT Bancorp’s dividend payout ratio is 47.89%.

Insider Buying and Selling

In related news, EVP Amy Wiles sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were 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 of the company’s stock, valued at approximately $1,398,240.90. The trade was a 3.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy E. Delaney sold 40,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the completion of the transaction, the director now directly owns 38,853 shares in the company, valued at $1,999,763.91. This trade represents a 50.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,694 shares of company stock valued at $3,139,185. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBTB. GAMMA Investing LLC raised its stake in NBT Bancorp by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after acquiring an additional 252 shares during the period. US Bancorp DE bought a new stake in NBT Bancorp in the 3rd quarter valued at about $57,000. Quest Partners LLC bought a new stake in NBT Bancorp in the 3rd quarter valued at about $57,000. Crews Bank & Trust bought a new stake in NBT Bancorp in the 4th quarter valued at about $98,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in NBT Bancorp in the 3rd quarter valued at about $103,000. 58.46% of the stock is currently owned by institutional investors.

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.