NBT Bancorp (NBTB) Earns Hold Rating from Keefe, Bruyette & Woods
NBTB has been the topic of several other research reports. Zacks Investment Research cut NBT Bancorp from a buy rating to a hold rating in a research report on Saturday, December 23rd. BidaskClub cut NBT Bancorp from a hold rating to a sell rating in a research report on Tuesday, January 30th. Sandler O’Neill set a $38.00 price target on NBT Bancorp and gave the company a hold rating in a research report on Wednesday, January 3rd. Finally, Boenning Scattergood restated a hold rating on shares of NBT Bancorp in a research report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has an average rating of Hold and an average price target of $39.13.
NBT Bancorp (NASDAQ NBTB) opened at $35.70 on Tuesday. The stock has a market capitalization of $1,515.11, a PE ratio of 18.76 and a beta of 0.88. NBT Bancorp has a 52-week low of $31.28 and a 52-week high of $41.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.85 and a quick ratio of 0.83.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Wednesday, February 28th. NBT Bancorp’s dividend payout ratio is presently 49.20%.
In other NBT Bancorp news, Director Robert A. Wadsworth sold 1,625 shares of NBT Bancorp stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $37.20, for a total value of $60,450.00. Following the sale, the director now owns 16,194 shares of the company’s stock, valued at approximately $602,416.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael J. Chewens sold 4,190 shares of NBT Bancorp 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 completion of the sale, the chief financial officer now directly owns 59,443 shares in the company, valued at approximately $2,283,205.63. The disclosure for this sale can be found here. 3.07% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in NBTB. The Manufacturers Life Insurance Company boosted its holdings in NBT Bancorp by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,198 shares of the bank’s stock valued at $1,227,000 after purchasing an additional 440 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in NBT Bancorp in the 3rd quarter valued at approximately $239,000. Victory Capital Management Inc. boosted its holdings in 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 in the last quarter. Stevens Capital Management LP purchased a new stake in NBT Bancorp in the 3rd quarter valued at approximately $384,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in NBT Bancorp by 62.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 23,853 shares of the bank’s stock valued at $876,000 after purchasing an additional 9,196 shares in the last quarter. 50.67% 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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