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

NBT Bancorp (NASDAQ:NBTB) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm currently has a $53.00 price target on the bank’s stock. Stephens’ price target indicates a potential upside of 14.99% from the company’s current price.

A number of other equities research analysts also recently issued reports on NBTB. DA Davidson began coverage on NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NBT Bancorp has a consensus rating of “Moderate Buy” and an average target price of $51.75.

NBT Bancorp Trading Down 5.4 %

Shares of NASDAQ:NBTB opened at $46.09 on Wednesday. The company has a market cap of $2.17 billion, a P/E ratio of 16.23 and a beta of 0.53. 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 has a 1 year low of $32.79 and a 1 year high of $52.44. The stock’s fifty day moving average price is $48.80 and its 200-day moving average price is $47.01.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earned $0.72 EPS. Sell-side analysts expect that NBT Bancorp will post 2.95 earnings per share for the current year.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director John H. Watt, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $49.40, for a total value of $494,000.00. Following the completion of the transaction, the director now directly owns 125,301 shares in the company, valued at $6,189,869.40. This represents a 7.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the transaction, the director now owns 38,853 shares of the company’s stock, valued at $1,999,763.91. The trade was a 50.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,694 shares of company stock worth $3,139,185. 3.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eagle Asset Management Inc. raised its holdings in shares of NBT Bancorp by 76.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock worth $16,759,000 after acquiring an additional 163,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of NBT Bancorp by 55.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock worth $9,946,000 after acquiring an additional 80,232 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of NBT Bancorp during the 3rd quarter worth approximately $439,000. Barclays PLC raised its holdings in shares of NBT Bancorp by 41.8% during the 3rd quarter. Barclays PLC now owns 91,880 shares of the bank’s stock worth $4,064,000 after acquiring an additional 27,085 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in NBT Bancorp by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after buying an additional 10,628 shares during the period. 58.46% of the stock is currently owned by institutional investors.

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.