NBT Bancorp (NASDAQ:NBTB) Trading Down 5.9%

NBT Bancorp Inc. (NASDAQ:NBTB)’s share price traded down 5.9% on Thursday . The stock traded as low as $35.06 and last traded at $35.06. 2,330 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 199,403 shares. The stock had previously closed at $37.26.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Janney Montgomery Scott raised shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Thursday, March 21st. Keefe, Bruyette & Woods reduced their price objective on NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. Stephens reiterated an “overweight” rating and set a $42.00 price objective on shares of NBT Bancorp in a report on Tuesday, April 23rd. Finally, Piper Sandler cut their target price on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.20.

NBT Bancorp Stock Up 0.1 %

The firm has a fifty day moving average of $35.16 and a 200-day moving average of $36.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.76 billion, a P/E ratio of 14.37 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. NBT Bancorp had a return on equity of 10.20% and a net margin of 16.71%. The company had revenue of $192.33 million for the quarter, compared to analysts’ expectations of $135.01 million. During the same quarter in the prior year, the business posted $0.88 EPS. On average, equities research analysts anticipate that NBT Bancorp Inc. will post 2.82 earnings per share for the current year.

Institutional Trading of NBT Bancorp

A number of large investors have recently added to or reduced their stakes in NBTB. Bank of New York Mellon Corp raised its holdings in shares of NBT Bancorp by 6.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 513,545 shares of the bank’s stock valued at $16,274,000 after purchasing an additional 31,876 shares during the period. Northern Trust Corp raised its stake in NBT Bancorp by 5.7% in the third quarter. Northern Trust Corp now owns 741,141 shares of the bank’s stock valued at $23,487,000 after buying an additional 39,912 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of NBT Bancorp by 11.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 504,681 shares of the bank’s stock valued at $15,993,000 after buying an additional 51,671 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of NBT Bancorp during the 4th quarter worth approximately $989,000. Finally, Graham Capital Management L.P. acquired a new position in shares of NBT Bancorp during the 3rd quarter worth approximately $676,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

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 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.