NBT Bancorp (NASDAQ:NBTB) Stock Rating Lowered by Wall Street Zen

NBT Bancorp (NASDAQ:NBTB) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on the stock. DA Davidson set a $62.00 price objective on shares of NBT Bancorp in a research note on Thursday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of NBT Bancorp in a research report on Monday, October 19th. Stephens downgraded shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $52.00 to $55.00 in a research note on Thursday, July 30th. Piper Sandler restated an “overweight” rating and set a $61.00 price target (down from $62.00) on shares of NBT Bancorp in a research report on Monday, November 2nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $55.00 price target (down from $58.00) on shares of NBT Bancorp in a research report on Friday, October 30th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $55.90.

NBT Bancorp Price Performance

Shares of NBTB opened at $52.83 on Friday. The firm has a market cap of $2.75 billion, a P/E ratio of 12.67 and a beta of 0.49. The stock has a 50 day simple moving average of $51.50 and a two-hundred day simple moving average of $47.94. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.87. NBT Bancorp has a 1 year low of $39.44 and a 1 year high of $55.35.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Tuesday, October 27th. The bank reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. The business had revenue of $195.03 million for the quarter, compared to analysts’ expectations of $193.83 million. NBT Bancorp had a net margin of 22.87% and a return on equity of 11.28%. On average, analysts forecast that NBT Bancorp will post 4.19 earnings per share for the current fiscal year.

Institutional Trading of NBT Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in NBT Bancorp during the 2nd quarter valued at about $32,000. Bessemer Group Inc. lifted its holdings in 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 buying an additional 324 shares during the period. Western Wealth Management LLC purchased a new stake in NBT Bancorp in the 1st quarter worth approximately $37,000. Nykredit A S purchased a new stake in NBT Bancorp in the 2nd quarter worth approximately $45,000. Finally, Global Retirement Partners LLC bought a new stake in shares of NBT Bancorp in the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company Profile

NBT Bancorp Inc is the bank holding company for NBT Bank, a community banking institution headquartered in Norwich, New York. Through NBT Bank and its subsidiaries, the company provides banking, lending, investment, insurance and financial services to consumers, businesses, nonprofit organizations and municipalities.

NBT Bank offers checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, business lending, cash-management services and agricultural financing.