NBT Bancorp (NASDAQ:NBTB) Raised to Overweight at Stephens

NBT Bancorp (NASDAQ:NBTB) was upgraded by equities researchers at Stephens from an “equal weight” rating to an “overweight” rating in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a $53.00 price target on the bank’s stock. Stephens’ price objective would suggest a potential upside of 14.99% from the company’s current price.

Several other brokerages also recently commented on NBTB. DA Davidson assumed coverage on NBT Bancorp in a research report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price objective on the stock. Keefe, Bruyette & Woods upped their price objective on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.75.

NBT Bancorp Stock Performance

NASDAQ:NBTB opened at $46.09 on Wednesday. The stock’s fifty day moving average is $48.80 and its 200 day moving average is $47.01. NBT Bancorp has a fifty-two week low of $32.79 and a fifty-two week high of $52.44. The firm has a market capitalization of $2.17 billion, a PE ratio of 16.23 and a beta of 0.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period in the prior year, the company posted $0.72 earnings per share. On average, sell-side analysts anticipate that NBT Bancorp will post 2.95 earnings per share for the current year.

Insider Transactions at NBT Bancorp

In related news, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $51.31, for a total transaction of $25,655.00. Following the sale, the executive vice president now owns 27,409 shares of the company’s stock, valued at $1,406,355.79. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy E. Delaney sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the sale, the director now directly owns 38,853 shares in the company, valued at approximately $1,999,763.91. The trade was a 50.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,694 shares of company stock valued at $3,139,185. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after buying an additional 252 shares during the last quarter. US Bancorp DE purchased a new stake in NBT Bancorp in the third quarter valued at about $57,000. Quest Partners LLC purchased a new stake in NBT Bancorp in the third quarter valued at about $57,000. Crews Bank & Trust purchased a new stake in NBT Bancorp in the fourth quarter valued at about $98,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in NBT Bancorp in the third quarter valued at about $103,000. Institutional investors own 58.46% of the company’s stock.

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.