NBT Bancorp (NASDAQ:NBTB) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of NBT Bancorp (NASDAQ:NBTB) from a hold rating to a sell rating in a research report report published on Tuesday morning.

NBTB has been the subject of a number of other reports. Hovde Group began coverage on NBT Bancorp in a report on Friday, March 21st. They issued a “market perform” rating and a $50.00 price target for the company. DA Davidson decreased their price target on NBT Bancorp from $57.00 to $53.00 and set a “buy” rating for the company in a report on Monday, April 28th. Finally, Stephens raised NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $52.75.

NBT Bancorp Trading Down 0.2%

NBT Bancorp stock opened at $44.38 on Tuesday. 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 has a 52 week low of $34.47 and a 52 week high of $52.44. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 14.99 and a beta of 0.58. The stock has a 50-day moving average price of $41.98 and a 200 day moving average price of $46.02.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. The firm had revenue of $155.31 million during the quarter, compared to the consensus estimate of $151.00 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. Sell-side analysts anticipate that NBT Bancorp will post 3.69 EPS for the current year.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, Director Heidi M. Hoeller bought 2,588 shares of NBT Bancorp stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $42.88 per share, with a total value of $110,973.44. Following the purchase, the director now directly owns 11,578 shares in the company, valued at $496,464.64. This represents a 28.79% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.03% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NBTB. Leigh Baldwin & CO. LLC acquired a new position in shares of NBT Bancorp during the 4th quarter worth approximately $52,606,000. Silvercrest Asset Management Group LLC acquired a new position in shares of NBT Bancorp during the 4th quarter worth approximately $38,978,000. Raymond James Financial Inc. acquired a new position in shares of NBT Bancorp during the 4th quarter worth approximately $23,651,000. JPMorgan Chase & Co. raised its stake in shares of NBT Bancorp by 307.0% during the 4th quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank’s stock worth $17,998,000 after buying an additional 284,267 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of NBT Bancorp during the 4th quarter worth approximately $12,007,000. 58.46% of the stock is owned by institutional investors and hedge funds.

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.