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

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

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

NBT Bancorp Price Performance

NBTB traded down $0.27 during midday trading on Tuesday, reaching $44.11. 204,561 shares of the company's stock were exchanged, compared to its average volume of 237,373. 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 stock has a market capitalization of $2.08 billion, a PE ratio of 14.90 and a beta of 0.58. The business's 50-day moving average price is $41.98 and its 200 day moving average price is $46.02. NBT Bancorp has a 1-year low of $34.47 and a 1-year high of $52.44.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.04. The firm had revenue of $155.31 million during 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 period in the previous year, the firm posted $0.68 EPS. As a group, equities analysts anticipate that NBT Bancorp will post 3.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Heidi M. Hoeller acquired 2,553 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was bought at an average price of $43.21 per share, with a total value of $110,315.13. Following the purchase, the director now directly owns 8,990 shares in the company, valued at $388,457.90. The trade was a 39.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NBT Bancorp

Several hedge funds have recently modified their holdings of NBTB. TD Private Client Wealth LLC boosted its holdings in shares of NBT Bancorp by 51.3% in the 1st quarter. TD Private Client Wealth LLC now owns 867 shares of the bank's stock valued at $37,000 after purchasing an additional 294 shares during the last quarter. Cloud Capital Management LLC purchased a new position in shares of NBT Bancorp in the 1st quarter worth $68,000. Sterling Capital Management LLC boosted its holdings in NBT Bancorp by 817.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock valued at $69,000 after acquiring an additional 1,292 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in NBT Bancorp during the fourth quarter valued at about $87,000. Finally, US Bancorp DE increased its stake in 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 last quarter. 58.46% of the stock is 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.