Zacks Investment Research upgraded shares of NBT Bancorp (NASDAQ:NBTB) from a sell rating to a hold rating in a report released 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 sell rating to a hold rating in a research report on Wednesday, February 13th.
NBT Bancorp stock opened at $37.32 on Tuesday. 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 has a one year low of $30.36 and a one year high of $41.88. The firm has a market cap of $1.65 billion, a P/E ratio of 14.58 and a beta of 0.88.
NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, January 28th. The bank reported $0.65 EPS for the quarter, meeting the consensus estimate of $0.65. NBT Bancorp had a return on equity of 11.42% and a net margin of 24.00%. The company had revenue of $104.82 million for the quarter, compared to analysts’ expectations of $110.75 million. During the same period last year, the firm posted $0.50 earnings per share. As a group, equities analysts anticipate that NBT Bancorp will post 2.62 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $1.04 annualized dividend and a dividend yield of 2.79%. NBT Bancorp’s dividend payout ratio (DPR) is presently 40.63%.
In related news, CFO Michael J. Chewens sold 4,634 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 60,556 shares of the company’s stock, valued at $2,199,999.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.23% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in NBT Bancorp by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 522,568 shares of the bank’s stock valued at $18,075,000 after acquiring an additional 37,002 shares during the period. Norges Bank bought a new position in NBT Bancorp in the fourth quarter valued at about $8,604,000. Walthausen & Co. LLC bought a new position in NBT Bancorp in the fourth quarter valued at about $6,282,000. Macquarie Group Ltd. lifted its holdings in NBT Bancorp by 1.3% in the fourth quarter. Macquarie Group Ltd. now owns 1,473,384 shares of the bank’s stock valued at $50,964,000 after acquiring an additional 19,500 shares during the period. Finally, Legal & General Group Plc lifted its holdings in NBT Bancorp by 2.8% in the fourth quarter. Legal & General Group Plc now owns 103,695 shares of the bank’s stock valued at $3,581,000 after acquiring an additional 2,801 shares during the period. 53.39% of the stock is currently owned by institutional investors.
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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