NBT Bancorp (NASDAQ:NBTB) Stock Rating Lowered by Janney Montgomery Scott

NBT Bancorp (NASDAQ:NBTB) was downgraded by research analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday,Finviz reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NBT Bancorp in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, NBT Bancorp currently has a consensus rating of “Hold” and an average target price of $50.67.

NBT Bancorp Price Performance

NBTB opened at $45.63 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $43.94 and its 200 day moving average price is $42.71. NBT Bancorp has a fifty-two week low of $37.31 and a fifty-two week high of $47.93. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 13.83 and a beta of 0.51.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, January 26th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The company had revenue of $185.14 million during the quarter, compared to analyst estimates of $183.63 million. NBT Bancorp had a return on equity of 10.86% and a net margin of 18.67%. As a group, sell-side analysts expect that NBT Bancorp will post 3.69 earnings per share for the current year.

Insider Activity

In other news, Director Timothy E. Delaney bought 22,730 shares of the company’s stock in a transaction that occurred on Wednesday, January 28th. The shares were purchased at an average price of $42.97 per share, with a total value of $976,708.10. Following the completion of the acquisition, the director directly owned 74,615 shares in the company, valued at approximately $3,206,206.55. This trade represents a 43.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Amy Wiles sold 4,435 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $45.72, for a total value of $202,768.20. Following the completion of the sale, the executive vice president owned 21,500 shares of the company’s stock, valued at $982,980. This trade represents a 17.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.03% of the stock is currently owned by company insiders.

Institutional Trading of NBT Bancorp

Several institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its holdings in NBT Bancorp by 10.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 36,266 shares of the bank’s stock worth $1,506,000 after acquiring an additional 3,378 shares during the period. Voloridge Investment Management LLC boosted its position in shares of NBT Bancorp by 6.3% during the 4th quarter. Voloridge Investment Management LLC now owns 27,823 shares of the bank’s stock valued at $1,155,000 after purchasing an additional 1,645 shares in the last quarter. Numerai GP LLC grew its stake in shares of NBT Bancorp by 4.3% in the 4th quarter. Numerai GP LLC now owns 37,115 shares of the bank’s stock worth $1,541,000 after purchasing an additional 1,524 shares during the last quarter. Occudo Quantitative Strategies LP grew its stake in shares of NBT Bancorp by 87.4% in the 4th quarter. Occudo Quantitative Strategies LP now owns 23,924 shares of the bank’s stock worth $993,000 after purchasing an additional 11,161 shares during the last quarter. Finally, Man Group plc bought a new stake in shares of NBT Bancorp in the 4th quarter worth approximately $206,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Company Profile

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.