Stephens Downgrades NBT Bancorp (NASDAQ:NBTB) to Equal Weight

NBT Bancorp (NASDAQ:NBTB) was downgraded by equities researchers at Stephens from an “overweight” rating to an “equal weight” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $55.00 price target on the bank’s stock, up from their prior price target of $52.00. Stephens’ target price would suggest a potential upside of 4.46% from the company’s current price.

NBTB has been the subject of several other research reports. Hovde Group decreased their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research report on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of NBT Bancorp in a report on Tuesday, July 21st. DA Davidson boosted their price target on NBT Bancorp from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Piper Sandler upped their price target on NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, NBT Bancorp has a consensus rating of “Hold” and a consensus price target of $54.12.

NBT Bancorp Stock Performance

Shares of NBTB stock opened at $52.65 on Thursday. The company’s fifty day simple moving average is $49.14 and its 200-day simple moving average is $45.77. NBT Bancorp has a 52 week low of $39.19 and a 52 week high of $54.50. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.74 billion, a PE ratio of 12.87 and a beta of 0.48.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, July 27th. The bank reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%.The business had revenue of $186.69 million for the quarter, compared to analysts’ expectations of $188.81 million. As a group, equities research analysts anticipate that NBT Bancorp will post 4.15 EPS for the current year.

Insider Activity

In other NBT Bancorp news, EVP Ruth H. Mahoney sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $54.30, for a total transaction of $244,350.00. Following the completion of the sale, the executive vice president owned 11,928 shares in the company, valued at $647,690.40. This trade represents a 27.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heidi M. Hoeller sold 2,100 shares of NBT Bancorp stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $48.03, for a total value of $100,863.00. Following the sale, the director owned 11,560 shares in the company, valued at $555,226.80. This represents a 15.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,600 shares of company stock worth $1,064,573 over the last ninety days. Corporate insiders own 2.99% of the company’s stock.

Institutional Trading of NBT Bancorp

A number of hedge funds have recently made changes to their positions in NBTB. EverSource Wealth Advisors LLC boosted its stake in NBT Bancorp by 1,645.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after acquiring an additional 609 shares during the last quarter. Larson Financial Group LLC grew its holdings in NBT Bancorp by 13,316.7% during the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after acquiring an additional 799 shares in the last quarter. Bessemer Group Inc. increased its position in shares of NBT Bancorp by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after purchasing an additional 324 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of NBT Bancorp in the 1st quarter worth about $37,000. Finally, Global Retirement Partners LLC increased its position in shares of NBT Bancorp by 62.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock worth $43,000 after purchasing an additional 399 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp News Summary

Here are the key news stories impacting NBT Bancorp this week:

• Positive Sentiment: NBT Bancorp raised its quarterly dividend to $0.40 per share from $0.37, equating to an annualized payout of $1.60 and an approximately 3.0% yield. The increase reinforces the stock’s appeal to income-oriented investors. NBT Bancorp Hits New 12-Month High After Dividend Announcement
• Positive Sentiment: Analyst sentiment was mixed but included bullish target increases: DA Davidson raised its price objective to $59 and retained a “buy” rating, while Piper Sandler previously lifted its target to $56 with an “overweight” rating. Analysts Have Conflicting Sentiments on NBT Bancorp
• Neutral Sentiment: Institutional ownership changes were mixed. Bank of New York Mellon reduced its stake by 2.2%, while Fifth Third Bancorp substantially increased its holding from a very small base. Because the filings reflect earlier-quarter activity, they provide limited insight into current trading conviction. Bank of New York Mellon Holdings
• Negative Sentiment: Stephens downgraded NBTB from “overweight” to “equal weight.” Although it increased its target to $55 from $52, the rating change suggests the analyst sees limited additional upside after the stock’s recent advance.
• Negative Sentiment: EVPs Sarah Halliday and Ruth Mahoney sold a combined 13,500 shares for approximately $730,710. The transactions reduced their individual holdings by roughly 29% and 27%, respectively, potentially weighing on sentiment even though the sales may reflect personal financial planning. Sarah Halliday SEC Filing Ruth Mahoney SEC Filing
• Negative Sentiment: The bank’s latest quarterly results narrowly missed expectations, with earnings of $1.01 per share versus $1.02 expected and revenue of $186.69 million versus $188.81 million forecast. The modest miss, combined with a consensus “hold” rating and an average target near the current price, supports the view that NBTB may be fully valued. NBT Bancorp Looks Fully Valued

NBT Bancorp Company Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.