NBT Bancorp (NASDAQ:NBTB) Downgraded by BidaskClub to “Sell”

BidaskClub downgraded shares of NBT Bancorp (NASDAQ:NBTB) from a hold rating to a sell rating in a research note issued to investors on Saturday, BidAskClub reports.

Separately, Zacks Investment Research upgraded shares of NBT Bancorp from a hold rating to a buy rating and set a $42.00 price objective on the stock in a report on Friday, April 26th.

NBTB opened at $36.02 on Friday. NBT Bancorp has a 52-week low of $30.36 and a 52-week high of $41.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.58 billion, a P/E ratio of 14.07 and a beta of 0.86. The firm’s 50-day moving average is $37.16.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, April 22nd. The bank reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.03. NBT Bancorp had a net margin of 24.00% and a return on equity of 11.50%. The firm had revenue of $111.51 million for the quarter, compared to the consensus estimate of $112.00 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. On average, research analysts expect that NBT Bancorp will post 2.63 EPS for the current fiscal year.

In other news, CFO Michael J. Chewens sold 5,103 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $37.69, for a total transaction of $192,332.07. Following the transaction, the chief financial officer now owns 54,704 shares in the company, valued at $2,061,793.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.29% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in shares of NBT Bancorp by 7.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 97,139 shares of the bank’s stock worth $3,497,000 after acquiring an additional 6,615 shares during the last quarter. Walthausen & Co. LLC increased its stake in shares of NBT Bancorp by 16.8% in the 1st quarter. Walthausen & Co. LLC now owns 212,120 shares of the bank’s stock worth $7,638,000 after acquiring an additional 30,520 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of NBT Bancorp by 4,609.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,709 shares of the bank’s stock worth $170,000 after acquiring an additional 4,609 shares during the last quarter. Piedmont Investment Advisors Inc. increased its stake in shares of NBT Bancorp by 5.8% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,977 shares of the bank’s stock worth $395,000 after acquiring an additional 604 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of NBT Bancorp by 3.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 58,486 shares of the bank’s stock worth $2,102,000 after acquiring an additional 1,982 shares during the last quarter. Hedge funds and other institutional investors own 54.43% of the company’s stock.

About NBT Bancorp

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.

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