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

NBT Bancorp (NASDAQ:NBTB - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Wednesday.

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

NBT Bancorp Trading Down 0.2%

NBTB opened at $43.68 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.06 billion, a PE ratio of 14.76 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 firm has a 50-day moving average price of $42.05 and a two-hundred day moving average price of $46.00.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $151.00 million. During the same quarter in the previous year, the company earned $0.68 EPS. As a group, equities analysts anticipate that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

Insider Activity at NBT Bancorp

In other news, Director Heidi M. Hoeller acquired 2,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased 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 owns 11,578 shares in the company, valued at $496,464.64. This trade represents a 28.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.03% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Leigh Baldwin & CO. LLC bought a new position in NBT Bancorp in the fourth quarter valued at approximately $52,606,000. Silvercrest Asset Management Group LLC bought a new position in NBT Bancorp in the fourth quarter valued at approximately $38,978,000. Northern Trust Corp lifted its stake in NBT Bancorp by 4.9% in the fourth quarter. Northern Trust Corp now owns 726,413 shares of the bank's stock valued at $34,693,000 after buying an additional 33,855 shares in the last quarter. Victory Capital Management Inc. lifted its stake in NBT Bancorp by 4.7% in the first quarter. Victory Capital Management Inc. now owns 697,879 shares of the bank's stock valued at $29,939,000 after buying an additional 31,317 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in NBT Bancorp by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank's stock valued at $32,632,000 after buying an additional 75,693 shares in the last quarter. 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.

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