NBT Bancorp (NASDAQ:NBTB) Downgraded to “Neutral” Rating by Janney Montgomery Scott

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

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

NBT Bancorp Stock Performance

Shares of NASDAQ 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 stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 13.83 and a beta of 0.51. The stock’s fifty day simple moving average is $43.94 and its 200 day simple moving average is $42.71. NBT Bancorp has a 52-week low of $37.31 and a 52-week high of $47.93.

NBT Bancorp (NASDAQ:NBTB) last announced 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 business had revenue of $185.14 million during the quarter, compared to the consensus estimate 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 forecast that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On NBT Bancorp

Large investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of NBT Bancorp by 22.3% in the first quarter. Royal Bank of Canada now owns 40,303 shares of the bank’s stock valued at $1,729,000 after purchasing an additional 7,349 shares during the period. AQR Capital Management LLC raised its holdings in NBT Bancorp by 45.0% in the 1st quarter. AQR Capital Management LLC now owns 13,630 shares of the bank’s stock worth $585,000 after acquiring an additional 4,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NBT Bancorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,388 shares of the bank’s stock worth $1,175,000 after acquiring an additional 1,197 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in NBT Bancorp by 15.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 165,550 shares of the bank’s stock worth $7,102,000 after acquiring an additional 22,655 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in NBT Bancorp by 1,188.4% during the first quarter. Jane Street Group LLC now owns 88,284 shares of the bank’s stock valued at $3,787,000 after acquiring an additional 81,432 shares during the period. Institutional investors 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.