NBT Bancorp (NASDAQ:NBTB) Rating Lowered to Equal Weight at Stephens

NBT Bancorp (NASDAQ:NBTB) was downgraded by equities researchers at Stephens from an “overweight” rating to an “equal weight” rating in a report issued on Thursday, MarketBeat Ratings reports. They currently have a $55.00 price objective on the bank’s stock. Stephens’ price objective would indicate a potential upside of 1.36% from the company’s current price.

A number of other research analysts have also commented on NBTB. Hovde Group lowered their price objective on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a report on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of NBT Bancorp in a report on Tuesday, July 21st. DA Davidson lifted their price target on shares of NBT Bancorp from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Piper Sandler upped their price objective on shares of NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.12.

NBT Bancorp Stock Performance

Shares of NBTB opened at $54.26 on Thursday. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 13.27 and a beta of 0.48. The company’s fifty day moving average is $48.86 and its 200-day moving average is $45.65. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.08. NBT Bancorp has a 12 month low of $39.19 and a 12 month high of $54.50.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, July 27th. The bank reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.01). The business had revenue of $186.69 million during the quarter, compared to analyst estimates of $188.81 million. NBT Bancorp had a net margin of 22.58% and a return on equity of 11.27%. Equities analysts expect that NBT Bancorp will post 4.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Ruth H. Mahoney sold 5,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $46.60, for a total transaction of $233,000.00. Following the transaction, the executive vice president owned 16,428 shares of the company’s stock, valued at approximately $765,544.80. The trade was a 23.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Heidi M. Hoeller sold 2,100 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $48.03, for a total transaction of $100,863.00. Following the transaction, the director owned 11,560 shares of the company’s stock, valued at approximately $555,226.80. The trade was a 15.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.99% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

Several hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its position in NBT Bancorp by 1,645.9% during the second quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after buying an additional 609 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of NBT Bancorp by 13,316.7% in the third quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after purchasing an additional 799 shares in the last quarter. Bessemer Group Inc. lifted its position in NBT Bancorp by 63.8% in the first quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after purchasing an additional 324 shares during the period. Western Wealth Management LLC bought a new stake in NBT Bancorp in the 1st quarter valued at $37,000. Finally, Global Retirement Partners LLC raised its stake in shares of NBT Bancorp by 62.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock valued at $43,000 after buying an additional 399 shares in the last quarter. Institutional investors own 58.46% of the company’s stock.

About NBT Bancorp

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.