NBT Bancorp Inc. (NASDAQ:NBTB) Given Average Recommendation of “Hold” by Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has received a consensus rating of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $42.60.

Several brokerages have commented on NBTB. StockNews.com raised NBT Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Stephens reissued an “equal weight” rating and issued a $49.00 price target on shares of NBT Bancorp in a research note on Tuesday, September 10th.

NBT Bancorp Trading Up 2.3 %

NBT Bancorp stock opened at $50.45 on Friday. The stock has a 50-day moving average price of $45.81 and a 200 day moving average price of $43.12. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 17.76 and a beta of 0.49. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 52 week low of $32.79 and a 52 week high of $51.93.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The company had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. During the same period in the previous year, the firm posted $0.84 earnings per share. Sell-side analysts anticipate that NBT Bancorp will post 2.91 EPS for the current year.

NBT Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio is presently 47.89%.

Insider Activity at NBT Bancorp

In related news, EVP Martin Randolph Sparks sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.37, for a total transaction of $48,370.00. Following the completion of the sale, the executive vice president now owns 15,003 shares of the company’s stock, valued at approximately $725,695.11. This represents a 6.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director V Daniel Robinson II sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total value of $882,000.00. Following the transaction, the director now owns 517,558 shares in the company, valued at approximately $22,824,307.80. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,556 shares of company stock valued at $8,039,690. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of NBT Bancorp by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after buying an additional 10,628 shares during the period. Barclays PLC grew its position in NBT Bancorp by 41.8% in the third quarter. Barclays PLC now owns 91,880 shares of the bank’s stock worth $4,064,000 after acquiring an additional 27,085 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in NBT Bancorp during the third quarter worth $1,278,000. HighTower Advisors LLC purchased a new stake in NBT Bancorp in the third quarter valued at $235,000. Finally, Centiva Capital LP acquired a new position in shares of NBT Bancorp in the 3rd quarter valued at $235,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

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.