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

NBT Bancorp Inc. (NASDAQ:NBTB) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $48.80.

A number of equities analysts have recently issued reports on the company. DA Davidson started coverage on NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target on the stock. Keefe, Bruyette & Woods increased their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $47.86 on Monday. The company has a market cap of $2.26 billion, a P/E ratio of 16.85 and a beta of 0.53. The business’s 50 day moving average price is $49.05 and its 200-day moving average price is $46.59. NBT Bancorp has a fifty-two week low of $32.79 and a fifty-two week high of $52.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $202.00 million for the quarter, compared to analysts’ expectations of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same quarter in the previous year, the business posted $0.84 earnings per share. Sell-side analysts predict that NBT Bancorp will post 2.95 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.84%. NBT Bancorp’s dividend payout ratio is currently 47.89%.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director John H. Watt, Jr. sold 20,000 shares of NBT Bancorp stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total transaction of $909,000.00. Following the sale, the director now owns 143,101 shares of the company’s stock, valued at $6,503,940.45. The trade was a 12.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Amy Wiles sold 1,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $50.10, for a total transaction of $50,100.00. Following the completion of the sale, the executive vice president now owns 27,909 shares of the company’s stock, valued at $1,398,240.90. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,694 shares of company stock valued at $4,048,185 over the last ninety days. Corporate insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

Several large investors have recently bought and sold shares of NBTB. GAMMA Investing LLC boosted its holdings in shares of NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after purchasing an additional 252 shares during the last quarter. US Bancorp DE acquired a new position in NBT Bancorp during the third quarter worth $57,000. Quest Partners LLC acquired a new position in NBT Bancorp during the third quarter worth $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in NBT Bancorp in the 3rd quarter valued at $103,000. Finally, Focused Wealth Management Inc acquired a new stake in shares of NBT Bancorp in the 3rd quarter worth $217,000. Hedge funds and other institutional investors 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.