NBT Bancorp Inc. (NASDAQ:NBTB) Given Consensus Rating of “Hold” by Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have earned a consensus rating of “Hold” from the five research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $52.75.

A number of research analysts have weighed in on NBTB shares. Wall Street Zen cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. DA Davidson dropped their price target on shares of NBT Bancorp from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Finally, Hovde Group assumed coverage on shares of NBT Bancorp in a research report on Friday, March 21st. They issued a “market perform” rating and a $50.00 price objective on the stock.

Insider Activity

In related news, Director John H. Watt, Jr. sold 7,869 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the transaction, the director now owns 116,027 shares of the company’s stock, valued at $4,875,454.54. This represents a 6.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heidi M. Hoeller acquired 2,553 shares of NBT Bancorp stock in a transaction on Tuesday, April 29th. The shares were purchased at an average price of $43.21 per share, for a total transaction of $110,315.13. Following the completion of the acquisition, the director now directly owns 8,990 shares in the company, valued at $388,457.90. This trade represents a 39.66% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 5,491 shares of company stock valued at $235,674. 3.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NBT Bancorp

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of NBT Bancorp by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock valued at $32,632,000 after buying an additional 75,693 shares during the period. Lisanti Capital Growth LLC grew its holdings in NBT Bancorp by 53.0% during the 4th quarter. Lisanti Capital Growth LLC now owns 66,035 shares of the bank’s stock worth $3,154,000 after acquiring an additional 22,865 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in NBT Bancorp during the 4th quarter valued at about $284,000. Deutsche Bank AG raised its holdings in shares of NBT Bancorp by 53.1% in the 4th quarter. Deutsche Bank AG now owns 39,645 shares of the bank’s stock valued at $1,893,000 after purchasing an additional 13,742 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of NBT Bancorp by 8.1% in the 4th quarter. Victory Capital Management Inc. now owns 666,562 shares of the bank’s stock valued at $31,835,000 after purchasing an additional 50,152 shares in the last quarter. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

NBT Bancorp Trading Down 1.3%

Shares of NASDAQ NBTB opened at $42.08 on Thursday. NBT Bancorp has a 1-year low of $35.20 and a 1-year high of $52.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50 day moving average is $41.75 and its two-hundred day moving average is $45.24. The stock has a market capitalization of $1.99 billion, a P/E ratio of 14.22 and a beta of 0.58.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.04. NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. The firm had revenue of $155.31 million for the quarter, compared to the consensus estimate of $151.00 million. During the same quarter in the previous year, the company posted $0.68 EPS. As a group, research analysts expect that NBT Bancorp will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.34 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 3.23%. NBT Bancorp’s payout ratio is 45.03%.

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.