NBT Bancorp (NASDAQ:NBTB) Raised to Sell at BidaskClub
NBTB has been the topic of several other research reports. Zacks Investment Research cut NBT Bancorp from a hold rating to a sell rating in a research report on Saturday, July 27th. Piper Jaffray Companies set a $38.00 target price on NBT Bancorp and gave the company a hold rating in a research report on Wednesday, August 7th. Finally, Boenning Scattergood reaffirmed a neutral rating on shares of NBT Bancorp in a research report on Wednesday, July 24th.
Shares of NASDAQ:NBTB opened at $36.93 on Tuesday. NBT Bancorp has a 52-week low of $30.36 and a 52-week high of $40.20. The stock has a market cap of $1.64 billion, a P/E ratio of 14.43 and a beta of 0.87. The business’s 50 day moving average is $35.98 and its 200 day moving average is $36.89. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17.
The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, August 29th. This represents a $1.04 annualized dividend and a yield of 2.82%. NBT Bancorp’s dividend payout ratio (DPR) is presently 40.63%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund boosted its position in NBT Bancorp by 1.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 17,211 shares of the bank’s stock valued at $646,000 after acquiring an additional 300 shares in the last quarter. Aperio Group LLC boosted its position in NBT Bancorp by 1.9% during the 2nd quarter. Aperio Group LLC now owns 16,373 shares of the bank’s stock valued at $614,000 after acquiring an additional 309 shares in the last quarter. Versant Capital Management Inc boosted its position in NBT Bancorp by 137.3% during the 2nd quarter. Versant Capital Management Inc now owns 712 shares of the bank’s stock valued at $26,000 after acquiring an additional 412 shares in the last quarter. Arizona State Retirement System boosted its position in NBT Bancorp by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 67,878 shares of the bank’s stock valued at $2,546,000 after acquiring an additional 417 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its position in NBT Bancorp by 3.6% during the 1st quarter. Mason Street Advisors LLC now owns 14,044 shares of the bank’s stock valued at $506,000 after acquiring an additional 483 shares in the last quarter. 54.44% of the stock is currently owned by institutional investors and hedge funds.
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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