Analysts Set NBT Bancorp Inc. (NASDAQ:NBTB) Price Target at $48.80

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $48.80.

A number of research firms have recently issued reports on NBTB. DA Davidson initiated coverage on NBT Bancorp in a report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price objective for the company. StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Insider Buying and Selling at NBT Bancorp

In other news, Director Timothy E. Delaney sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the transaction, the director now owns 38,853 shares in the company, valued at $1,999,763.91. This trade represents a 50.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Amy Wiles sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $50.10, for a total value of $50,100.00. Following the transaction, the executive vice president now directly owns 27,909 shares of the company’s stock, valued at $1,398,240.90. This represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,694 shares of company stock worth $4,048,185. 3.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NBT Bancorp

Several hedge funds have recently bought and sold shares of the business. Arizona State Retirement System lifted its holdings in shares of NBT Bancorp by 2.0% during the second quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock valued at $509,000 after purchasing an additional 258 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in NBT Bancorp by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock worth $88,675,000 after acquiring an additional 46,498 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of NBT Bancorp in the second quarter worth $1,974,000. Bradley Foster & Sargent Inc. CT lifted its position in shares of NBT Bancorp by 49.6% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 28,213 shares of the bank’s stock valued at $1,089,000 after acquiring an additional 9,349 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in NBT Bancorp by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 103,705 shares of the bank’s stock worth $4,003,000 after purchasing an additional 7,183 shares in the last quarter. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Up 1.5 %

Shares of NASDAQ NBTB opened at $47.86 on Monday. The business has a 50-day moving average of $49.05 and a 200-day moving average of $46.59. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 16.85 and a beta of 0.53. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 12 month low of $32.79 and a 12 month high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The firm had revenue of $202.00 million for the quarter, compared to analysts’ expectations of $144.70 million. During the same quarter last year, the company posted $0.84 EPS. Sell-side analysts expect that NBT Bancorp will post 2.95 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

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.