NBT Bancorp (NASDAQ:NBTB) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of NBT Bancorp (NASDAQ:NBTB) from a hold rating to a sell rating in a report issued on Wednesday morning.

Other analysts also recently issued research reports about the company. DA Davidson lowered their target price on NBT Bancorp from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Hovde Group began coverage on NBT Bancorp in a report on Friday, March 21st. They set a “market perform” rating and a $50.00 price target for the company. Finally, Stephens upgraded 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 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 company. Based on data from MarketBeat.com, NBT Bancorp currently has a consensus rating of “Hold” and a consensus target price of $52.75.

NBT Bancorp Stock Performance

NBTB opened at $41.56 on Wednesday. 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’s 50-day moving average price is $41.96 and its two-hundred day moving average price is $45.94. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 14.04 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 earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. The business had revenue of $155.31 million for 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 quarter in the previous year, the business earned $0.68 earnings per share. Equities analysts expect that NBT Bancorp will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Monday, June 2nd. NBT Bancorp’s payout ratio is currently 45.03%.

Insider Buying and Selling

In other news, Director Heidi M. Hoeller acquired 2,588 shares of NBT Bancorp stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $42.88 per share, for a total transaction of $110,973.44. Following the completion of the acquisition, the director now directly owns 11,578 shares in the company, valued at approximately $496,464.64. The trade was a 28.79% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NBT Bancorp

Institutional investors have recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its holdings in shares of NBT Bancorp by 51.3% during the first quarter. TD Private Client Wealth LLC now owns 867 shares of the bank’s stock worth $37,000 after acquiring an additional 294 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of NBT Bancorp by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank’s stock worth $69,000 after acquiring an additional 1,292 shares during the period. Cloud Capital Management LLC bought a new stake in shares of NBT Bancorp during the first quarter worth approximately $68,000. Rialto Wealth Management LLC bought a new stake in shares of NBT Bancorp during the fourth quarter worth approximately $87,000. Finally, US Bancorp DE boosted its holdings in shares of NBT Bancorp by 42.0% during the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock worth $88,000 after acquiring an additional 543 shares during the period. 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.