NBT Bancorp (NASDAQ:NBTB) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Boenning Scattergood restated a “hold” rating on shares of NBT Bancorp in a research report on Wednesday, July 25th. Five investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $41.83.

Shares of NBTB stock opened at $36.12 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $1.68 billion, a P/E ratio of 18.34 and a beta of 0.86. NBT Bancorp has a 1 year low of $34.05 and a 1 year high of $41.88.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, July 23rd. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $109.90 million during the quarter, compared to analysts’ expectations of $108.45 million. NBT Bancorp had a return on equity of 10.30% and a net margin of 20.92%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share. As a group, analysts predict that NBT Bancorp will post 2.53 earnings per share for the current year.

In other NBT Bancorp news, EVP Joseph R. Stagliano sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $41.45, for a total transaction of $227,975.00. Following the completion of the transaction, the executive vice president now directly owns 59,737 shares in the company, valued at $2,476,098.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sarah A. Halliday acquired 850 shares of the stock in a transaction on Friday, August 10th. The shares were purchased at an average price of $39.18 per share, with a total value of $33,303.00. Following the completion of the transaction, the executive vice president now owns 5,712 shares of the company’s stock, valued at $223,796.16. The disclosure for this purchase can be found here. 3.23% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NBTB. BlackRock Inc. increased its holdings in shares of NBT Bancorp by 6.1% during the second quarter. BlackRock Inc. now owns 6,022,871 shares of the bank’s stock worth $229,772,000 after buying an additional 344,106 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of NBT Bancorp by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,148,956 shares of the bank’s stock worth $81,983,000 after buying an additional 44,075 shares in the last quarter. Northern Trust Corp increased its holdings in shares of NBT Bancorp by 0.9% during the second quarter. Northern Trust Corp now owns 1,108,867 shares of the bank’s stock worth $42,304,000 after buying an additional 10,087 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of NBT Bancorp by 2.6% during the first quarter. Principal Financial Group Inc. now owns 334,132 shares of the bank’s stock worth $11,855,000 after buying an additional 8,337 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of NBT Bancorp by 5.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 310,296 shares of the bank’s stock worth $11,838,000 after buying an additional 15,552 shares in the last quarter. Institutional investors and hedge funds own 52.29% of the company’s stock.

About NBT Bancorp

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, commercial real estate, agricultural, agricultural real estate, and business banking loans; consumer loans, such as indirect, home equity, and direct loans; and residential real estate mortgages, as well as real estate construction and development loans.

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