NBT Bancorp (NASDAQ:NBTB) Stock Rating Reaffirmed by Stephens

NBT Bancorp (NASDAQ:NBTB)‘s stock had its “overweight” rating restated by analysts at Stephens in a report released on Tuesday, Benzinga reports. They presently have a $42.00 price objective on the bank’s stock. Stephens’ target price indicates a potential upside of 16.99% from the stock’s current price.

A number of other equities research analysts have also weighed in on NBTB. Raymond James boosted their price objective on shares of NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Piper Sandler lowered their price target on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a report on Thursday, March 21st. Finally, Keefe, Bruyette & Woods lowered their price target on shares of NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, NBT Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $41.20.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB opened at $35.90 on Tuesday. The company has a 50 day moving average of $34.79 and a 200 day moving average of $36.23. The stock has a market cap of $1.69 billion, a P/E ratio of 13.86 and a beta of 0.51. NBT Bancorp has a 12 month low of $27.52 and a 12 month high of $43.77. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $192.33 million during the quarter, compared to analysts’ expectations of $135.01 million. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.41%. During the same quarter in the previous year, the company earned $0.88 earnings per share. As a group, sell-side analysts forecast that NBT Bancorp will post 2.89 EPS for the current fiscal year.

Insider Transactions at NBT Bancorp

In related news, Director Lowell A. Seifter sold 4,770 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $37.50, for a total value of $178,875.00. Following the transaction, the director now owns 44,362 shares in the company, valued at approximately $1,663,575. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Lowell A. Seifter sold 3,230 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $36.96, for a total value of $119,380.80. Following the transaction, the director now owns 49,132 shares in the company, valued at approximately $1,815,918.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lowell A. Seifter sold 4,770 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $37.50, for a total transaction of $178,875.00. Following the transaction, the director now owns 44,362 shares in the company, valued at approximately $1,663,575. The disclosure for this sale can be found here. Insiders have sold 8,641 shares of company stock valued at $319,806 in the last three months. 3.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NBT Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Longfellow Investment Management Co. LLC bought a new position in NBT Bancorp during the 3rd quarter valued at about $27,000. Register Financial Advisors LLC bought a new position in NBT Bancorp during the 1st quarter valued at about $27,000. Blue Trust Inc. lifted its stake in NBT Bancorp by 69.9% during the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after acquiring an additional 276 shares during the period. Asset Dedication LLC bought a new position in shares of NBT Bancorp in the 3rd quarter worth approximately $37,000. Finally, Bare Financial Services Inc bought a new position in shares of NBT Bancorp in the 4th quarter worth approximately $98,000. Institutional investors own 58.46% 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 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.