NBT Bancorp (NASDAQ:NBTB) Research Coverage Started at Hovde Group

Hovde Group started coverage on shares of NBT Bancorp (NASDAQ:NBTB) in a research report released on Friday, MarketBeat.com reports. The brokerage issued a market perform rating and a $50.00 price target on the bank’s stock.

NBTB has been the topic of a number of other research reports. DA Davidson began coverage on shares of NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective on the stock. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a report on Wednesday, January 29th. StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.50.

NBT Bancorp Stock Down 0.9 %

NBTB stock opened at $42.80 on Friday. 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 twelve month low of $32.93 and a twelve month high of $52.44. The company’s 50 day moving average is $46.54 and its two-hundred day moving average is $46.87. The stock has a market cap of $2.02 billion, a P/E ratio of 14.46 and a beta of 0.48.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same quarter last year, the firm posted $0.72 EPS. Research analysts expect that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.34 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.18%. NBT Bancorp’s payout ratio is 45.95%.

Insider Buying and Selling at NBT Bancorp

In other news, Director Heidi M. Hoeller acquired 678 shares of the company’s stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $48.45 per share, with a total value of $32,849.10. Following the purchase, the director now owns 6,437 shares of the company’s stock, valued at $311,872.65. This represents a 11.77 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sarah A. Halliday sold 5,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction of $242,250.00. Following the completion of the transaction, the executive vice president now directly owns 25,564 shares in the company, valued at $1,238,575.80. This represents a 16.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NBT Bancorp

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in shares of NBT Bancorp by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock worth $49,477,000 after purchasing an additional 10,628 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new stake in shares of NBT Bancorp during the 4th quarter worth $52,606,000. Silvercrest Asset Management Group LLC purchased a new stake in shares of NBT Bancorp during the 4th quarter worth $38,978,000. Northern Trust Corp boosted its position in shares of NBT Bancorp by 4.9% during the 4th quarter. Northern Trust Corp now owns 726,413 shares of the bank’s stock worth $34,693,000 after purchasing an additional 33,855 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of NBT Bancorp by 12.5% during the 4th quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock worth $32,632,000 after purchasing an additional 75,693 shares in the last quarter. 58.46% of the stock is currently 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.