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

Several other equities analysts have also recently issued reports on NBTB. Zacks Investment Research cut NBT Bancorp from a hold rating to a sell rating in a research report on Saturday, July 27th. Boenning Scattergood reissued a neutral rating on shares of NBT Bancorp in a research note on Wednesday, July 24th. Finally, Piper Jaffray Companies set a $38.00 price target on NBT Bancorp and gave the company a hold rating in a report on Wednesday, August 7th.

Shares of NASDAQ:NBTB opened at $36.22 on Friday. NBT Bancorp has a fifty-two week low of $30.36 and a fifty-two week high of $40.62. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm’s 50-day simple moving average is $36.08 and its 200-day simple moving average is $36.95. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 14.15 and a beta of 0.87.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.04 annualized dividend and a dividend yield of 2.87%. NBT Bancorp’s payout ratio is currently 40.63%.

Several large investors have recently bought and sold shares of NBTB. Oregon Public Employees Retirement Fund increased its position in shares of NBT Bancorp by 1.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 17,211 shares of the bank’s stock valued at $646,000 after buying an additional 300 shares in the last quarter. Aperio Group LLC increased its stake in shares of NBT Bancorp by 1.9% during the 2nd quarter. Aperio Group LLC now owns 16,373 shares of the bank’s stock worth $614,000 after purchasing an additional 309 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of 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 in the last quarter. Arizona State Retirement System raised its position in shares of NBT Bancorp by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 67,878 shares of the bank’s stock worth $2,546,000 after purchasing an additional 417 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in shares of NBT Bancorp by 3.6% during the 1st quarter. Mason Street Advisors LLC now owns 14,044 shares of the bank’s stock worth $506,000 after purchasing an additional 483 shares during the last quarter. 54.45% of the stock is currently owned by institutional investors and hedge funds.

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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