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 report released on Wednesday morning.

Separately, Stephens reiterated an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NBT Bancorp has an average rating of “Hold” and a consensus target price of $42.60.

NBT Bancorp Stock Up 0.1 %

Shares of NBTB opened at $50.12 on Wednesday. The firm has a market cap of $2.36 billion, a P/E ratio of 17.65 and a beta of 0.49. NBT Bancorp has a 12 month low of $32.79 and a 12 month high of $52.31. The stock’s 50 day moving average is $46.30 and its two-hundred day moving average is $43.57. 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 (NASDAQ:NBTB) last issued its quarterly 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. The firm had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same period in the previous year, the company posted $0.84 earnings per share. Analysts predict that NBT Bancorp will post 2.91 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is 47.89%.

Insider Activity

In other NBT Bancorp news, EVP Amy Wiles sold 556 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $25,020.00. Following the completion of the transaction, the executive vice president now owns 28,909 shares of the company’s stock, valued at $1,300,905. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director V Daniel Robinson II sold 50,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $44.58, for a total value of $2,229,000.00. Following the transaction, the director now directly owns 417,558 shares of the company’s stock, valued at $18,614,735.64. The trade was a 10.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,556 shares of company stock valued at $8,540,290. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NBT Bancorp

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