NBT Bancorp (NASDAQ:NBTB) Stock Rating Upgraded by StockNews.com

NBT Bancorp (NASDAQ:NBTB) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods boosted their target price on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson started coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective on the stock. Finally, Stephens restated an “equal weight” rating and issued a $49.00 target price 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, NBT Bancorp has an average rating of “Moderate Buy” and an average price target of $48.17.

NBT Bancorp Price Performance

Shares of NBTB opened at $48.88 on Thursday. NBT Bancorp has a twelve month low of $32.79 and a twelve month high of $52.44. The company has a market capitalization of $2.31 billion, a P/E ratio of 17.21 and a beta of 0.52. The firm has a 50 day moving average of $48.28 and a 200 day moving average of $44.91. 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 (NASDAQ:NBTB) last issued its earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The business had revenue of $202.00 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.84 EPS. As a group, equities research analysts anticipate that NBT Bancorp will post 2.94 earnings per share for the current fiscal year.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director John H. Watt, Jr. sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the completion of the sale, the director now 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 SEC, which is accessible through the SEC website. Also, EVP Amy Wiles sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $50.10, for a total value of $50,100.00. Following the completion of the transaction, the executive vice president now directly owns 27,909 shares in the company, valued at $1,398,240.90. This trade represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,694 shares of company stock worth $4,048,185. 3.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On NBT Bancorp

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after purchasing an additional 252 shares in the last quarter. US Bancorp DE purchased a new position in shares of NBT Bancorp in the third quarter valued at about $57,000. Quest Partners LLC bought a new position in shares of NBT Bancorp in the third quarter worth about $57,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in NBT Bancorp during the 3rd quarter valued at approximately $103,000. Finally, AQR Capital Management LLC purchased a new position in NBT Bancorp in the 2nd quarter worth approximately $214,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

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.