NBT Bancorp (NBTB) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of NBT Bancorp (NASDAQ:NBTB) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “NBT BANCORP INC. is a one bank holding company engaged in general banking business. “

Separately, BidaskClub raised NBT Bancorp from a hold rating to a buy rating in a research note on Thursday, November 22nd.

Shares of NBTB opened at $37.32 on Tuesday. The company has a market cap of $1.65 billion, a P/E ratio of 14.58 and a beta of 0.88. NBT Bancorp has a 12-month low of $30.36 and a 12-month high of $41.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.85 and a current ratio of 0.85.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, January 28th. The bank reported $0.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.65. The company had revenue of $104.82 million for the quarter, compared to the consensus estimate of $110.75 million. NBT Bancorp had a return on equity of 11.42% and a net margin of 24.00%. During the same quarter last year, the company earned $0.50 EPS. On average, equities analysts expect that NBT Bancorp will post 2.62 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.79%. The ex-dividend date is Thursday, February 28th. NBT Bancorp’s dividend payout ratio (DPR) is presently 40.63%.

In other NBT Bancorp news, CFO Michael J. Chewens sold 4,634 shares of the firm’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $36.33, for a total transaction of $168,353.22. Following the completion of the transaction, the chief financial officer now owns 60,556 shares in the company, valued at approximately $2,199,999.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.23% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new position in NBT Bancorp during the 4th quarter valued at approximately $30,000. Advisors Preferred LLC purchased a new position in NBT Bancorp during the 4th quarter valued at approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in NBT Bancorp by 23.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,053 shares of the bank’s stock valued at $106,000 after buying an additional 570 shares in the last quarter. Bank of Montreal Can grew its holdings in NBT Bancorp by 58.6% during the 4th quarter. Bank of Montreal Can now owns 3,885 shares of the bank’s stock valued at $135,000 after buying an additional 1,436 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in NBT Bancorp during the 4th quarter valued at approximately $152,000. Institutional investors and hedge funds own 53.39% of the company’s stock.

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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