BidaskClub Upgrades NBT Bancorp (NBTB) to “Buy”

BidaskClub upgraded shares of NBT Bancorp (NASDAQ:NBTB) from a hold rating to a buy rating in a report issued on Tuesday, March 20th.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of NBT Bancorp from a buy rating to a strong sell rating in a research report on Wednesday, February 21st. Keefe, Bruyette & Woods reissued a hold rating and set a $40.50 price target on shares of NBT Bancorp in a research report on Monday, February 5th. Boenning Scattergood reissued a hold rating on shares of NBT Bancorp in a research report on Wednesday, January 24th. Finally, Sandler O’Neill set a $38.00 price objective on shares of NBT Bancorp and gave the stock a hold rating in a report on Wednesday, January 3rd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $39.13.

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Shares of NBTB stock traded up $0.41 during mid-day trading on Tuesday, reaching $36.07. 66,486 shares of the company were exchanged, compared to its average volume of 125,063. NBT Bancorp has a fifty-two week low of $31.28 and a fifty-two week high of $40.85. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1,567.98, a P/E ratio of 18.25 and a beta of 0.83.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, January 22nd. The bank reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). NBT Bancorp had a return on equity of 9.16% and a net margin of 19.07%. The company had revenue of $104.92 million for the quarter, compared to analyst estimates of $103.52 million. During the same period in the previous year, the business posted $0.45 EPS. research analysts predict that NBT Bancorp will post 2.44 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Thursday, May 31st. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.23. NBT Bancorp’s payout ratio is currently 46.70%.

In other NBT Bancorp news, CFO Michael J. Chewens sold 4,190 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $38.41, for a total value of $160,937.90. Following the sale, the chief financial officer now directly owns 59,443 shares in the company, valued at $2,283,205.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert A. Wadsworth sold 1,625 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $37.20, for a total value of $60,450.00. Following the completion of the sale, the director now owns 16,194 shares in the company, valued at $602,416.80. The disclosure for this sale can be found here. Insiders own 3.07% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc bought a new stake in NBT Bancorp in the fourth quarter valued at $208,000. Crossmark Global Holdings Inc. bought a new stake in NBT Bancorp in the third quarter valued at $239,000. Victory Capital Management Inc. lifted its stake in NBT Bancorp by 33.2% in the third quarter. Victory Capital Management Inc. now owns 6,650 shares of the bank’s stock valued at $244,000 after buying an additional 1,657 shares during the last quarter. Quadrant Private Wealth Management LLC bought a new stake in NBT Bancorp in the fourth quarter valued at $250,000. Finally, Xact Kapitalforvaltning AB bought a new stake in NBT Bancorp in the fourth quarter valued at $279,000. Institutional investors own 51.21% of the company’s stock.

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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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