NBT Bancorp Inc. (NASDAQ:NBTB) Given Average Recommendation of “Moderate Buy” by Analysts

NBT Bancorp Inc. (NASDAQ:NBTB) has earned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $54.50.

NBTB has been the topic of a number of research reports. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price target on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Hovde Group assumed coverage on shares of NBT Bancorp in a report on Friday, March 21st. They issued a “market perform” rating and a $50.00 price objective on the stock. Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a report on Wednesday, January 29th. Finally, DA Davidson began coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target on the stock.

Insider Activity at NBT Bancorp

In related news, Director Heidi M. Hoeller acquired 678 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 6,437 shares of the company’s stock, valued at $311,872.65. This trade represents a 11.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $48.45, for a total transaction of $242,250.00. Following the sale, the executive vice president now directly owns 25,564 shares of the company’s stock, valued at $1,238,575.80. The trade was a 16.36 % decrease in their position. The disclosure for this sale can be found here. 3.32% of the stock is currently owned by company insiders.

Institutional Trading of NBT Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of NBT Bancorp during the third quarter worth $57,000. GAMMA Investing LLC raised its stake in NBT Bancorp by 66.5% in the 4th quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock worth $62,000 after purchasing an additional 517 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in NBT Bancorp by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,292 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of NBT Bancorp during the 4th quarter worth approximately $87,000. Finally, US Bancorp DE increased 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. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Price Performance

NASDAQ NBTB opened at $42.90 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 14.49 and a beta of 0.53. The business has a 50 day simple moving average of $45.86 and a 200 day simple moving average of $46.74. NBT Bancorp has a 52-week low of $32.93 and a 52-week high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the company posted $0.72 EPS. Analysts anticipate that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The company 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 of this dividend was Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.17%. NBT Bancorp’s payout ratio is 45.95%.

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.