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

StockNews.com cut shares of NBT Bancorp (NASDAQ:NBTB - Free Report) from a hold rating to a sell rating in a report published on Tuesday.

NBTB has been the subject of a number of other research reports. Stephens upgraded shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 target price for the company in a research report on Wednesday, January 29th. Hovde Group initiated coverage on shares of NBT Bancorp in a research report on Friday, March 21st. They issued a "market perform" rating and a $50.00 price target for the company. Finally, DA Davidson cut their price objective on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $52.75.

NBT Bancorp Stock Down 0.6%

NBTB traded down $0.27 during trading on Tuesday, hitting $44.11. The company had a trading volume of 204,561 shares, compared to its average volume of 238,061. The company has a market cap of $2.08 billion, a PE ratio of 14.90 and a beta of 0.58. NBT Bancorp has a 1-year low of $34.47 and a 1-year high of $52.44. The business has a 50-day moving average of $42.00 and a 200-day moving average of $46.02. 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 - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.04. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. The company had revenue of $155.31 million for the quarter, compared to analysts' expectations of $151.00 million. During the same period in the prior year, the company earned $0.68 earnings per share. As a group, analysts forecast that NBT Bancorp will post 3.69 earnings per share for the current year.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, Director Heidi M. Hoeller purchased 2,553 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were purchased 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 directly owns 8,990 shares of the company's stock, valued at approximately $388,457.90. This represents a 39.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors have recently bought and sold shares of the business. Leigh Baldwin & CO. LLC bought a new position in shares of NBT Bancorp during the fourth quarter valued at $52,606,000. Silvercrest Asset Management Group LLC bought a new stake in NBT Bancorp during the 4th quarter worth about $38,978,000. Raymond James Financial Inc. acquired a new position in shares of NBT Bancorp during the 4th quarter worth about $23,651,000. JPMorgan Chase & Co. grew its position 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 about $12,007,000. Institutional investors and hedge funds 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.