NBT Bancorp (NASDAQ:NBTB) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday.

Separately, Zacks Investment Research raised NBT Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th.

NBTB stock opened at $35.91 on Tuesday. NBT Bancorp has a fifty-two week low of $30.36 and a fifty-two week high of $41.88. The firm has a market cap of $1.57 billion, a P/E ratio of 14.03 and a beta of 0.88. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, January 28th. The bank reported $0.65 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.65. NBT Bancorp had a return on equity of 11.42% and a net margin of 24.00%. The firm had revenue of $104.82 million during the quarter, compared to analysts’ expectations of $110.75 million. During the same period last year, the firm posted $0.50 EPS. As a group, equities research analysts expect that NBT Bancorp will post 2.62 EPS for the current fiscal year.

In other news, CFO Michael J. Chewens sold 4,634 shares of NBT Bancorp stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $36.33, for a total value of $168,353.22. Following the completion of the sale, the chief financial officer now directly owns 60,556 shares of the company’s stock, valued at approximately $2,199,999.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.23% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of NBT Bancorp by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 522,568 shares of the bank’s stock valued at $18,075,000 after buying an additional 37,002 shares during the period. Norges Bank acquired a new stake in shares of NBT Bancorp in the 4th quarter valued at $8,604,000. Walthausen & Co. LLC acquired a new stake in shares of NBT Bancorp in the 4th quarter valued at $6,282,000. Macquarie Group Ltd. increased its stake in shares of NBT Bancorp by 1.3% in the 4th quarter. Macquarie Group Ltd. now owns 1,473,384 shares of the bank’s stock valued at $50,964,000 after buying an additional 19,500 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of NBT Bancorp by 2.8% in the 4th quarter. Legal & General Group Plc now owns 103,695 shares of the bank’s stock valued at $3,581,000 after buying an additional 2,801 shares during the period. 54.29% of the stock is owned by institutional investors.

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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