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

NBT Bancorp (NASDAQ:NBTB) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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

NBT Bancorp Stock Down 0.1 %

Shares of NASDAQ:NBTB opened at $50.08 on Wednesday. The business’s 50-day moving average is $46.21 and its 200-day moving average is $43.48. NBT Bancorp has a 1 year low of $32.79 and a 1 year high of $52.31. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 17.63 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87.

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, beating the consensus estimate 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 firm earned $0.84 earnings per share. Equities research analysts predict that NBT Bancorp will post 2.91 earnings per share for the current year.

Insider Buying and Selling at NBT Bancorp

In other news, Director Timothy E. Delaney sold 40,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the sale, the director now directly owns 38,853 shares of the company’s stock, valued at $1,999,763.91. This represents a 50.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Amy Wiles sold 556 shares of NBT Bancorp 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 transaction, the executive vice president now directly owns 28,909 shares in the company, valued at approximately $1,300,905. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 182,556 shares of company stock worth $8,540,290. 3.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NBT Bancorp

Several large investors have recently bought and sold shares of NBTB. Eagle Asset Management Inc. grew its stake in shares of NBT Bancorp by 76.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock worth $16,759,000 after acquiring an additional 163,952 shares in the last quarter. Edgestream Partners L.P. bought a new stake in NBT Bancorp in the 2nd quarter worth about $1,974,000. Landscape Capital Management L.L.C. purchased a new stake in NBT Bancorp in the 3rd quarter valued at about $439,000. Ceredex Value Advisors LLC lifted its position in shares of NBT Bancorp by 2.6% during the 2nd quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock worth $8,473,000 after buying an additional 5,500 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of NBT Bancorp by 3.9% in the 3rd quarter. Raymond James & Associates now owns 95,062 shares of the bank’s stock worth $4,205,000 after buying an additional 3,540 shares during the last quarter. 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.