BidaskClub cut shares of NBT Bancorp (NASDAQ:NBTB) from a buy rating to a hold rating in a report released on Saturday.

A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded NBT Bancorp from a hold rating to a sell rating in a report on Tuesday, July 10th. Boenning Scattergood reaffirmed a neutral rating on shares of NBT Bancorp in a research report on Friday, June 29th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $40.13.

NASDAQ NBTB opened at $40.45 on Friday. The firm has a market capitalization of $1.77 billion, a P/E ratio of 20.53 and a beta of 0.87. NBT Bancorp has a twelve month low of $31.28 and a twelve month high of $41.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, July 23rd. The bank reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. The business had revenue of $109.90 million during the quarter, compared to the consensus estimate of $108.45 million. NBT Bancorp had a return on equity of 10.30% and a net margin of 20.92%. NBT Bancorp’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. sell-side analysts anticipate that NBT Bancorp will post 2.53 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.47%. NBT Bancorp’s dividend payout ratio (DPR) is currently 50.76%.

In other news, EVP Sarah A. Halliday purchased 850 shares of the business’s stock in a transaction on Friday, August 10th. The shares were acquired at an average price of $39.18 per share, with a total value of $33,303.00. Following the completion of the transaction, the executive vice president now owns 5,712 shares of the company’s stock, valued at approximately $223,796.16. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph R. Stagliano sold 5,500 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $41.45, for a total transaction of $227,975.00. Following the sale, the executive vice president now directly owns 59,737 shares in the company, valued at approximately $2,476,098.65. The disclosure for this sale can be found here. Corporate insiders own 3.23% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. California Public Employees Retirement System boosted its position in shares of NBT Bancorp by 8.2% during the 2nd quarter. California Public Employees Retirement System now owns 112,530 shares of the bank’s stock worth $4,293,000 after purchasing an additional 8,527 shares in the last quarter. Zebra Capital Management LLC bought a new position in shares of NBT Bancorp during the 2nd quarter worth about $371,000. Renaissance Technologies LLC boosted its position in shares of NBT Bancorp by 118.0% during the 2nd quarter. Renaissance Technologies LLC now owns 19,400 shares of the bank’s stock worth $740,000 after purchasing an additional 10,500 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of NBT Bancorp during the 2nd quarter worth about $124,000. Finally, Citadel Advisors LLC boosted its position in shares of NBT Bancorp by 7.3% during the 2nd quarter. Citadel Advisors LLC now owns 70,342 shares of the bank’s stock worth $2,683,000 after purchasing an additional 4,802 shares in the last quarter. 52.28% 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, commercial real estate, agricultural, agricultural real estate, and business banking loans; consumer loans, such as indirect, home equity, and direct loans; and residential real estate mortgages, as well as real estate construction and development loans.

Further Reading: Short Selling Stocks, A Beginner’s Guide

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