NBT Bancorp Inc. (NASDAQ:NBTB) Receives $54.50 Average PT from Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have earned an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $54.50.

A number of equities research analysts have weighed in on the company. Hovde Group started coverage on NBT Bancorp in a research note on Friday, March 21st. They issued a “market perform” rating and a $50.00 price objective for the company. StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Finally, Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research report on Wednesday, January 29th.

NBT Bancorp Trading Up 0.6 %

Shares of NASDAQ:NBTB opened at $42.60 on Wednesday. NBT Bancorp has a 52 week low of $34.47 and a 52 week high of $52.44. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.01 billion, a PE ratio of 14.39 and a beta of 0.53. The company’s 50 day moving average is $42.81 and its two-hundred day moving average is $46.16.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. The company had revenue of $155.31 million for the quarter, compared to analysts’ expectations of $151.00 million. During the same quarter last year, the company earned $0.68 earnings per share. Equities analysts predict that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, March 3rd. NBT Bancorp’s dividend payout ratio (DPR) is presently 45.95%.

Insider Buying and Selling at NBT Bancorp

In other news, EVP Sarah A. Halliday sold 5,000 shares of the company’s stock in a transaction dated 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 owns 25,564 shares of the company’s stock, valued at $1,238,575.80. This represents a 16.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Heidi M. Hoeller purchased 678 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 6,437 shares of the company’s stock, valued at $311,872.65. The trade was a 11.77 % increase in their position. The disclosure for this purchase can be found here. 3.03% of the stock is owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of NBT Bancorp by 66.5% in the 4th quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock valued at $62,000 after acquiring an additional 517 shares during the period. Sterling Capital Management LLC grew its stake in NBT Bancorp by 817.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank’s stock worth $69,000 after purchasing an additional 1,292 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in shares of NBT Bancorp in the 4th quarter valued at approximately $87,000. US Bancorp DE raised its holdings in shares of NBT Bancorp by 42.0% during the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank’s stock worth $88,000 after purchasing an additional 543 shares during the period. Finally, Crews Bank & Trust acquired a new stake in NBT Bancorp during the fourth quarter worth about $98,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

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.