NBT Bancorp Inc. (NBTB) Lowered to “Underperform” at Boenning Scattergood
NBTB has been the subject of a number of other reports. Zacks Investment Research downgraded NBT Bancorp from a buy rating to a hold rating in a report on Wednesday, September 28th. Keefe, Bruyette & Woods upped their price target on shares of NBT Bancorp from $27.00 to $28.00 and gave the company a market perform rating in a research report on Friday, July 29th. Finally, Piper Jaffray Cos. cut shares of NBT Bancorp from a neutral rating to an underweight rating in a research report on Wednesday.
NBT Bancorp (NASDAQ:NBTB) traded up 1.32% on Thursday, hitting $39.18. The stock had a trading volume of 32,220 shares. The company has a 50 day moving average of $34.25 and a 200 day moving average of $31.02. The company has a market capitalization of $1.69 billion, a PE ratio of 22.01 and a beta of 0.79. NBT Bancorp has a 12-month low of $23.81 and a 12-month high of $40.96.
NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, October 24th. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. The business earned $96.31 million during the quarter. NBT Bancorp had a return on equity of 8.73% and a net margin of 19.35%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, equities analysts expect that NBT Bancorp will post $1.80 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Tuesday, November 29th. NBT Bancorp’s payout ratio is presently 51.69%.
In other NBT Bancorp news, CEO Martin A. Dietrich sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $32.67, for a total value of $816,750.00. Following the transaction, the chief executive officer now owns 191,345 shares in the company, valued at $6,251,241.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Martin A. Dietrich sold 21,741 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $40.20, for a total transaction of $873,988.20. Following the completion of the transaction, the chief executive officer now owns 186,920 shares in the company, valued at approximately $7,514,184. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in NBTB. BlackRock Institutional Trust Company N.A. raised its stake in shares of NBT Bancorp by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,184,153 shares of the company’s stock worth $31,913,000 after buying an additional 8,379 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of NBT Bancorp by 5.9% in the first quarter. TIAA CREF Investment Management LLC now owns 152,770 shares of the company’s stock worth $4,117,000 after buying an additional 8,479 shares during the last quarter. BlackRock Group LTD raised its stake in shares of NBT Bancorp by 3.8% in the first quarter. BlackRock Group LTD now owns 68,224 shares of the company’s stock worth $1,839,000 after buying an additional 2,517 shares during the last quarter. PineBridge Investments L.P. raised its stake in shares of NBT Bancorp by 3.4% in the second quarter. PineBridge Investments L.P. now owns 5,447 shares of the company’s stock worth $156,000 after buying an additional 177 shares during the last quarter. Finally, Mason Street Advisors LLC bought a new stake in shares of NBT Bancorp during the second quarter worth $240,000. 46.71% of the stock is currently owned by hedge funds and other institutional investors.
About NBT Bancorp
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and other subsidiaries, which provide commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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