NBT Bancorp Inc. (NASDAQ:NBTB) Receives $41.60 Average Target Price from Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have received a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $41.60.

NBTB has been the topic of several research reports. Janney Montgomery Scott raised shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Thursday, March 21st. Raymond James lifted their price objective on shares of NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a research report on Wednesday, February 14th. Keefe, Bruyette & Woods lowered their price target on shares of NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating on the stock in a research report on Thursday, January 25th. Finally, Piper Sandler lowered their price target on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th.

NBT Bancorp Stock Down 0.2 %

Shares of NASDAQ NBTB opened at $33.02 on Monday. NBT Bancorp has a 1 year low of $27.52 and a 1 year high of $43.77. The stock has a market capitalization of $1.56 billion, a P/E ratio of 12.41 and a beta of 0.51. The company has a 50-day moving average price of $34.74 and a 200-day moving average price of $36.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.86 and a quick ratio of 0.86.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). NBT Bancorp had a return on equity of 11.10% and a net margin of 17.86%. The firm had revenue of $137.66 million for the quarter, compared to analysts’ expectations of $138.87 million. On average, equities research analysts forecast that NBT Bancorp will post 2.89 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.32 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.88%. NBT Bancorp’s dividend payout ratio (DPR) is 48.12%.

Insider Activity

In other news, CFO Scott Allen Kingsley purchased 1,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was bought at an average cost of $36.80 per share, for a total transaction of $36,800.00. Following the acquisition, the chief financial officer now directly owns 25,513 shares of the company’s stock, valued at approximately $938,878.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Scott Allen Kingsley acquired 1,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was acquired at an average cost of $36.80 per share, for a total transaction of $36,800.00. Following the acquisition, the chief financial officer now owns 25,513 shares of the company’s stock, valued at $938,878.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lowell A. Seifter sold 4,770 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $37.50, for a total transaction of $178,875.00. Following the completion of the transaction, the director now owns 44,362 shares of the company’s stock, valued at $1,663,575. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,641 shares of company stock valued at $319,806. Corporate insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

Institutional investors have recently bought and sold shares of the company. Longfellow Investment Management Co. LLC purchased a new stake in shares of NBT Bancorp during the 3rd quarter valued at about $27,000. Register Financial Advisors LLC bought a new stake in NBT Bancorp during the 1st quarter worth approximately $27,000. Lazard Asset Management LLC bought a new stake in shares of NBT Bancorp during the first quarter valued at approximately $27,000. Blue Trust Inc. raised its position in shares of NBT Bancorp by 69.9% during the fourth quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after buying an additional 276 shares during the last quarter. Finally, Asset Dedication LLC bought a new stake in shares of NBT Bancorp during the third quarter valued at approximately $37,000. 58.46% of the stock is owned by hedge funds and other 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 indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.