BidaskClub upgraded shares of NBT Bancorp (NASDAQ:NBTB) from a sell rating to a hold rating in a research report released on Tuesday morning.
A number of other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods reiterated a hold rating and set a $41.50 target price on shares of NBT Bancorp in a report on Tuesday, February 27th. Zacks Investment Research lowered shares of NBT Bancorp from a buy rating to a strong sell rating in a report on Wednesday, February 21st. Boenning Scattergood reiterated a hold rating on shares of NBT Bancorp in a report on Wednesday, January 24th. Finally, Sandler O’Neill set a $38.00 target price on shares of NBT Bancorp and gave the stock a hold rating in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. NBT Bancorp currently has an average rating of Hold and a consensus price target of $39.13.
NBT Bancorp (NASDAQ:NBTB) opened at $37.31 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.20. NBT Bancorp has a fifty-two week low of $31.28 and a fifty-two week high of $40.85. The company has a market cap of $1,622.09, a P/E ratio of 19.95 and a beta of 0.88.
NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, January 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.03). The business had revenue of $104.92 million for the quarter, compared to analyst estimates of $103.52 million. NBT Bancorp had a return on equity of 9.16% and a net margin of 19.07%. During the same quarter last year, the company earned $0.45 earnings per share. research analysts anticipate that NBT Bancorp will post 2.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.47%. NBT Bancorp’s dividend payout ratio (DPR) is presently 49.20%.
In other NBT Bancorp news, CFO Michael J. Chewens sold 4,190 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $38.41, for a total value of $160,937.90. Following the sale, the chief financial officer now directly owns 59,443 shares of the company’s stock, valued at approximately $2,283,205.63. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert A. Wadsworth sold 1,625 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $37.20, for a total transaction of $60,450.00. Following the completion of the sale, the director now directly owns 16,194 shares in the company, valued at $602,416.80. The disclosure for this sale can be found here. 3.07% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in shares of NBT Bancorp by 33.2% in the 3rd quarter. Victory Capital Management Inc. now owns 6,650 shares of the bank’s stock valued at $244,000 after purchasing an additional 1,657 shares during the last quarter. American International Group Inc. grew its position in shares of NBT Bancorp by 5.7% in the 3rd quarter. American International Group Inc. now owns 33,903 shares of the bank’s stock valued at $1,245,000 after buying an additional 1,841 shares during the last quarter. Rhumbline Advisers grew its position in shares of NBT Bancorp by 2.6% in the 3rd quarter. Rhumbline Advisers now owns 90,149 shares of the bank’s stock valued at $3,310,000 after buying an additional 2,298 shares during the last quarter. Swiss National Bank grew its position in shares of NBT Bancorp by 3.5% in the 4th quarter. Swiss National Bank now owns 73,300 shares of the bank’s stock valued at $2,697,000 after buying an additional 2,500 shares during the last quarter. Finally, Citadel Advisors LLC grew its position in shares of NBT Bancorp by 6.6% in the 4th quarter. Citadel Advisors LLC now owns 64,839 shares of the bank’s stock valued at $2,386,000 after buying an additional 4,036 shares during the last quarter. 51.43% of the stock is currently owned by institutional investors.
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NBT Bancorp Company Profile
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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