NBT Bancorp (NASDAQ:NBTB) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday, BidAskClub reports.
Separately, Zacks Investment Research cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st.
Shares of NBT Bancorp stock traded up $0.33 on Wednesday, hitting $40.25. 94,106 shares of the company traded hands, compared to its average volume of 126,005. The company has a 50-day moving average price of $40.40 and a 200 day moving average price of $37.98. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 12-month low of $34.12 and a 12-month high of $41.50. The company has a market cap of $1.76 billion, a PE ratio of 15.72 and a beta of 0.86.
NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.67 by $0.06. NBT Bancorp had a net margin of 24.08% and a return on equity of 11.43%. The business had revenue of $117.77 million for the quarter, compared to analysts’ expectations of $112.40 million. During the same period in the previous year, the company posted $0.68 EPS. Equities research analysts anticipate that NBT Bancorp will post 2.7 EPS for the current year.
In related news, Director Lowell A. Seifter sold 4,131 shares of NBT Bancorp stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $39.46, for a total value of $163,009.26. Following the completion of the sale, the director now owns 43,014 shares of the company’s stock, valued at approximately $1,697,332.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.29% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of NBT Bancorp in the 3rd quarter valued at $109,000. Bank of Montreal Can lifted its stake in shares of NBT Bancorp by 104.3% in the 2nd quarter. Bank of Montreal Can now owns 6,921 shares of the bank’s stock valued at $259,000 after purchasing an additional 3,533 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of NBT Bancorp in the 2nd quarter valued at $262,000. Alps Advisors Inc. acquired a new stake in shares of NBT Bancorp in the 3rd quarter valued at $357,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of NBT Bancorp by 27.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 12,829 shares of the bank’s stock valued at $480,000 after purchasing an additional 2,770 shares during the last quarter. 55.25% of the stock is owned by institutional investors and hedge funds.
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 commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, direct loans, mortgages, business banking loans, and commercial loans; and residential real estate loans, as well as development loans.
Further Reading: What economic reports are most valuable to investors?
Receive News & Ratings for NBT Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NBT Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
