BidaskClub upgraded shares of NBT Bancorp (NASDAQ:NBTB) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday, BidAskClub reports.

NBTB has been the topic of several other research reports. Zacks Investment Research downgraded NBT Bancorp from a hold rating to a sell rating in a report on Saturday, July 27th. Boenning Scattergood restated a neutral rating on shares of NBT Bancorp in a report on Wednesday, July 24th. Finally, Piper Jaffray Companies set a $38.00 price target on NBT Bancorp and gave the stock a hold rating in a report on Wednesday, August 7th.

NBTB opened at $36.86 on Tuesday. The stock’s 50-day moving average price is $35.94 and its 200 day moving average price is $36.88. NBT Bancorp has a 12-month low of $30.36 and a 12-month high of $40.20. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 14.40 and a beta of 0.87.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, July 22nd. The bank reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. NBT Bancorp had a return on equity of 11.47% and a net margin of 24.08%. The firm had revenue of $112.87 million for the quarter, compared to analyst estimates of $112.65 million. During the same quarter in the prior year, the company earned $0.64 EPS. On average, research analysts forecast that NBT Bancorp will post 2.63 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend 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 40.63%.

A number of hedge funds and other institutional investors have recently modified their holdings of NBTB. Versant Capital Management Inc increased its holdings in NBT Bancorp by 137.3% during the 2nd quarter. Versant Capital Management Inc now owns 712 shares of the bank’s stock worth $26,000 after purchasing an additional 412 shares during the period. Advisory Services Network LLC increased its holdings in NBT Bancorp by 316.7% during the 2nd quarter. Advisory Services Network LLC now owns 1,546 shares of the bank’s stock worth $58,000 after purchasing an additional 1,175 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in NBT Bancorp by 4,609.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,709 shares of the bank’s stock worth $170,000 after purchasing an additional 4,609 shares during the period. CIBC Asset Management Inc purchased a new stake in NBT Bancorp during the 2nd quarter worth about $207,000. Finally, Everence Capital Management Inc. purchased a new stake in NBT Bancorp during the 1st quarter worth about $213,000. Institutional investors own 54.44% of the company’s stock.

NBT Bancorp Company Profile

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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