NBT Bancorp (NASDAQ:NBTB) Stock Rating Lowered by Raymond James

NBT Bancorp (NASDAQ:NBTB) was downgraded by research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, MarketBeat Ratings reports.

Several other brokerages also recently issued reports on NBTB. Stephens reissued an “overweight” rating and set a $42.00 price objective on shares of NBT Bancorp in a research note on Tuesday. Keefe, Bruyette & Woods lowered their price objective on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.60.

NBT Bancorp Price Performance

Shares of NBTB opened at $49.38 on Wednesday. NBT Bancorp has a fifty-two week low of $30.31 and a fifty-two week high of $50.83. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 19.07 and a beta of 0.52. The firm has a 50-day simple moving average of $38.85 and a 200-day simple moving average of $36.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The company had revenue of $194.00 million for the quarter, compared to analyst estimates of $139.02 million. NBT Bancorp had a return on equity of 9.73% and a net margin of 16.15%. During the same period last year, the company earned $0.80 earnings per share. On average, equities research analysts anticipate that NBT Bancorp will post 2.8 earnings per share for the current year.

Insider Activity

In related news, EVP Sarah A. Halliday sold 1,325 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $35.66, for a total value of $47,249.50. Following the transaction, the executive vice president now owns 32,402 shares in the company, valued at $1,155,455.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NBT Bancorp

A number of large investors have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC acquired a new position in shares of NBT Bancorp in the 1st quarter worth approximately $27,000. Blue Trust Inc. grew its stake in shares of NBT Bancorp by 69.9% during the fourth quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock worth $28,000 after purchasing an additional 276 shares during the period. Bare Financial Services Inc bought a new position in NBT Bancorp during the 4th quarter worth approximately $98,000. Naples Money Management LLC bought a new stake in shares of NBT Bancorp in the 4th quarter valued at $156,000. Finally, Union Savings Bank increased its holdings in shares of NBT Bancorp by 4,075.0% in the first quarter. Union Savings Bank now owns 4,843 shares of the bank’s stock worth $178,000 after acquiring an additional 4,727 shares in the last quarter. 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.