Brokerages Set NBT Bancorp Inc. (NASDAQ:NBTB) Price Target at $48.17

NBT Bancorp Inc. (NASDAQ:NBTB) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $48.17.

NBTB has been the topic of a number of recent analyst reports. Stephens reissued an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a research note on Tuesday, September 10th. StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. DA Davidson assumed coverage on shares of NBT Bancorp in a report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target for the company. Finally, Keefe, Bruyette & Woods increased their price objective on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

NBT Bancorp Price Performance

Shares of NBTB stock opened at $48.88 on Thursday. The stock’s fifty day simple moving average is $48.28 and its 200 day simple moving average is $44.98. NBT Bancorp has a one year low of $32.79 and a one year high of $52.44. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 17.21 and a beta of 0.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period last year, the firm posted $0.84 EPS. On average, analysts expect that NBT Bancorp will post 2.94 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Monday, December 2nd. NBT Bancorp’s payout ratio is 47.89%.

Insider Transactions at NBT Bancorp

In related news, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $51.31, for a total transaction of $25,655.00. Following the sale, the executive vice president now owns 27,409 shares of the company’s stock, valued at approximately $1,406,355.79. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jack H. Webb sold 10,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $50.06, for a total value of $500,600.00. Following the completion of the transaction, the director now directly owns 45,018 shares of the company’s stock, valued at approximately $2,253,601.08. The trade was a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,694 shares of company stock worth $4,048,185 in the last three months. Insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in shares of NBT Bancorp by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock worth $88,675,000 after purchasing an additional 46,498 shares in the last quarter. Geode Capital Management LLC grew its position in shares of NBT Bancorp by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after purchasing an additional 10,628 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in shares of NBT Bancorp by 14.9% during the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after purchasing an additional 107,404 shares during the period. Victory Capital Management Inc. lifted its holdings in NBT Bancorp by 540.2% during the 2nd quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock worth $27,147,000 after purchasing an additional 593,436 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in NBT Bancorp by 36.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock valued at $24,307,000 after buying an additional 169,180 shares in the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

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.