NBT Bancorp (NASDAQ:NBTB) Rating Increased to Overweight at Stephens

Stephens upgraded shares of NBT Bancorp (NASDAQ:NBTB) from an equal weight rating to an overweight rating in a research note published on Wednesday morning, MarketBeat reports. The brokerage currently has $53.00 price target on the bank’s stock.

A number of other equities analysts have also commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of 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 initiated coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target on the stock. Finally, StockNews.com lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.75.

NBT Bancorp Price Performance

Shares of NBTB opened at $47.02 on Wednesday. The firm has a market capitalization of $2.22 billion, a PE ratio of 16.56 and a beta of 0.53. The company’s 50-day moving average is $48.77 and its 200-day moving average is $47.01. NBT Bancorp has a fifty-two week low of $32.79 and a fifty-two week high of $52.44. 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 data on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing the consensus estimate 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 earned $0.72 earnings per share. Equities analysts forecast that NBT Bancorp will post 2.95 EPS for the current year.

NBT Bancorp Dividend Announcement

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 paid a dividend of $0.34 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 2.89%. NBT Bancorp’s payout ratio is 47.89%.

Insiders Place Their Bets

In other news, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $51.31, for a total value of $25,655.00. Following the sale, the executive vice president now directly owns 27,409 shares in the company, valued at approximately $1,406,355.79. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack H. Webb sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $50.06, for a total transaction of $500,600.00. Following the completion of the sale, the director now owns 45,018 shares in the company, valued at approximately $2,253,601.08. The trade was a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,694 shares of company stock worth $3,139,185 over the last ninety days. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in NBT Bancorp by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock worth $49,477,000 after buying an additional 10,628 shares during the period. Charles Schwab Investment Management Inc. boosted its position in NBT Bancorp by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 585,636 shares of the bank’s stock worth $25,903,000 after buying an additional 7,294 shares during the period. Eagle Asset Management Inc. boosted its position in NBT Bancorp by 76.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock worth $16,759,000 after buying an additional 163,952 shares during the period. Ceredex Value Advisors LLC boosted its position in NBT Bancorp by 40.9% during the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock worth $13,680,000 after buying an additional 89,800 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in NBT Bancorp during the 4th quarter worth approximately $12,007,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

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.