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 report released on Tuesday.

Other analysts also recently issued reports about the company. Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a report on Wednesday, January 29th. Hovde Group began coverage on NBT Bancorp in a research note on Friday, March 21st. They issued a “market perform” rating and a $50.00 target price on the stock. Finally, DA Davidson cut their target price on NBT Bancorp from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, NBT Bancorp presently has a consensus rating of “Hold” and an average price target of $52.75.

NBT Bancorp Stock Performance

NBTB stock opened at $44.38 on Tuesday. 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 business has a 50-day moving average price of $41.98 and a 200 day moving average price of $46.02. The company has a market capitalization of $2.10 billion, a P/E ratio of 14.99 and a beta of 0.58. NBT Bancorp has a 1-year low of $34.47 and a 1-year high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.04. The firm had revenue of $155.31 million during the quarter, compared to the consensus estimate of $151.00 million. NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same period in the previous year, the company posted $0.68 earnings per share. As a group, equities research analysts forecast that NBT Bancorp will post 3.69 EPS for the current fiscal year.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director Heidi M. Hoeller purchased 2,553 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were acquired at an average price of $43.21 per share, for a total transaction of $110,315.13. Following the completion of the purchase, the director now owns 8,990 shares of the company’s stock, valued at approximately $388,457.90. The trade was a 39.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.03% of the stock is owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

A number of large investors have recently modified their holdings of NBTB. Leigh Baldwin & CO. LLC purchased a new stake in shares of NBT Bancorp during the fourth quarter worth about $52,606,000. Silvercrest Asset Management Group LLC purchased a new stake in shares of NBT Bancorp during the fourth quarter worth about $38,978,000. Raymond James Financial Inc. purchased a new stake in shares of NBT Bancorp during the fourth quarter worth about $23,651,000. JPMorgan Chase & Co. grew its stake in shares of NBT Bancorp by 307.0% during the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank’s stock worth $17,998,000 after acquiring an additional 284,267 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of NBT Bancorp during the fourth quarter worth about $12,007,000. Hedge funds and other institutional investors 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.