ValuEngine cut shares of NBT Bancorp Inc. (NASDAQ:NBTB) from a buy rating to a hold rating in a research report released on Tuesday, August 1st.
Several other equities analysts also recently weighed in on NBTB. Zacks Investment Research upgraded NBT Bancorp from a hold rating to a buy rating and set a $44.00 target price on the stock in a research report on Thursday, April 27th. Piper Jaffray Companies upgraded NBT Bancorp from an underweight rating to a neutral rating and set a $35.50 price objective on the stock in a research report on Thursday, June 8th. Finally, BidaskClub upgraded NBT Bancorp from a sell rating to a hold rating in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $36.75.
Shares of NBT Bancorp (NASDAQ NBTB) traded up 0.85% during mid-day trading on Tuesday, reaching $33.15. The company’s stock had a trading volume of 162,156 shares. The company has a 50-day moving average of $35.84 and a 200-day moving average of $37.64. The firm has a market cap of $1.44 billion, a PE ratio of 17.82 and a beta of 0.88. NBT Bancorp has a 12 month low of $31.27 and a 12 month high of $42.56.
NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, July 24th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The firm had revenue of $99.93 million for the quarter, compared to the consensus estimate of $100.91 million. NBT Bancorp had a return on equity of 8.81% and a net margin of 19.68%. During the same period last year, the business posted $0.46 EPS. On average, analysts predict that NBT Bancorp will post $1.95 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.23 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.78%. NBT Bancorp’s dividend payout ratio (DPR) is 49.46%.
In other NBT Bancorp news, Director John C. Mitchell sold 1,570 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $36.27, for a total transaction of $56,943.90. Following the completion of the transaction, the director now owns 34,219 shares in the company, valued at $1,241,123.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Mitchell sold 1,438 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $35.48, for a total value of $51,020.24. Following the transaction, the director now owns 32,781 shares of the company’s stock, valued at approximately $1,163,069.88. The disclosure for this sale can be found here. Insiders own 2.83% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in shares of NBT Bancorp by 16.2% in the first quarter. BNP Paribas Arbitrage SA now owns 9,360 shares of the bank’s stock valued at $347,000 after buying an additional 1,306 shares during the period. Bank of New York Mellon Corp raised its position in shares of NBT Bancorp by 28.9% in the first quarter. Bank of New York Mellon Corp now owns 796,715 shares of the bank’s stock valued at $29,534,000 after buying an additional 178,423 shares during the period. Chicago Equity Partners LLC acquired a new position in shares of NBT Bancorp during the first quarter valued at about $950,000. Great West Life Assurance Co. Can raised its stake in shares of NBT Bancorp by 7.4% in the first quarter. Great West Life Assurance Co. Can now owns 61,881 shares of the bank’s stock worth $2,291,000 after buying an additional 4,259 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of NBT Bancorp by 0.6% in the first quarter. Wells Fargo & Company MN now owns 40,684 shares of the bank’s stock worth $1,508,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 49.87% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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