NBT Bancorp Inc. (NASDAQ:NBTB) was upgraded by analysts at Boenning Scattergood from an “under perform” rating to a “neutral” rating in a research note issued to investors on Tuesday.

Several other analysts have also commented on the stock. ValuEngine lowered shares of NBT Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub lowered shares of NBT Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, July 28th. Piper Jaffray Companies reissued a “hold” rating and set a $35.00 target price on shares of NBT Bancorp in a research note on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $38.50 target price on shares of NBT Bancorp in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $36.75.

Shares of NBT Bancorp (NASDAQ:NBTB) traded up 1.60% on Tuesday, hitting $34.90. 20,436 shares of the stock were exchanged. The company has a market cap of $1.52 billion, a P/E ratio of 18.76 and a beta of 0.88. The firm’s 50-day moving average is $36.21 and its 200-day moving average is $37.81. NBT Bancorp has a one year low of $30.28 and a one year high of $42.56.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, July 24th. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. NBT Bancorp had a net margin of 19.68% and a return on equity of 8.81%. The business had revenue of $99.93 million during the quarter, compared to analyst estimates of $100.91 million. During the same period in the prior year, the business earned $0.46 earnings per share. On average, equities analysts forecast that NBT Bancorp will post $1.95 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This article was first posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another domain, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The original version of this article can be viewed at https://www.watchlistnews.com/nbt-bancorp-inc-nbtb-stock-rating-upgraded-by-boenning-scattergood/1489667.html.

In related news, Director John C. Mitchell sold 1,438 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $35.48, for a total value of $51,020.24. Following the completion of the sale, the director now owns 32,781 shares in the company, valued at approximately $1,163,069.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John C. Mitchell sold 1,570 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $36.27, for a total transaction of $56,943.90. Following the completion of the sale, the director now owns 34,219 shares of the company’s stock, valued at approximately $1,241,123.13. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in shares of NBT Bancorp during the fourth quarter valued at approximately $239,000. Ameriprise Financial Inc. increased its stake in shares of NBT Bancorp by 6.0% in the first quarter. Ameriprise Financial Inc. now owns 241,870 shares of the bank’s stock valued at $8,966,000 after buying an additional 13,761 shares during the period. Bank of New York Mellon Corp increased its stake in shares of NBT Bancorp by 28.9% in the first quarter. Bank of New York Mellon Corp now owns 796,715 shares of the bank’s stock valued at $29,534,000 after buying an additional 178,423 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of NBT Bancorp during the first quarter valued at approximately $369,000. Finally, Vanguard Group Inc. increased its stake in shares of NBT Bancorp by 7.4% in the first quarter. Vanguard Group Inc. now owns 4,067,362 shares of the bank’s stock valued at $150,777,000 after buying an additional 279,331 shares during the period. Institutional investors and hedge funds own 49.87% of the company’s stock.

About NBT Bancorp

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.

Receive News & Ratings for NBT Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NBT Bancorp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.