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

NBT Bancorp Inc. (NASDAQ:NBTB) has been given an average rating of “Moderate Buy” by the five brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $51.75.

Several research firms have recently commented on NBTB. DA Davidson started coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price for the company. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods raised their target price on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Wednesday, January 29th.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 500 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $51.31, for a total transaction of $25,655.00. Following the sale, the executive vice president now directly owns 27,409 shares in the company, valued at approximately $1,406,355.79. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sarah A. Halliday sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $48.45, for a total transaction of $242,250.00. Following the completion of the sale, the executive vice president now directly owns 25,564 shares of the company’s stock, valued at approximately $1,238,575.80. This represents a 16.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,694 shares of company stock valued at $277,935. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NBT Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of NBT Bancorp during the 3rd quarter valued at $57,000. US Bancorp DE acquired a new position in NBT Bancorp during the third quarter worth about $57,000. GAMMA Investing LLC raised its position in NBT Bancorp by 66.5% in the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock worth $62,000 after acquiring an additional 517 shares in the last quarter. Sterling Capital Management LLC raised its position in NBT Bancorp by 817.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank’s stock worth $69,000 after acquiring an additional 1,292 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in NBT Bancorp in the 4th quarter valued at about $87,000. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $47.31 on Tuesday. 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 has a 12 month low of $32.79 and a 12 month high of $52.44. The company has a fifty day moving average price of $47.67 and a two-hundred day moving average price of $47.28. The company has a market cap of $2.23 billion, a PE ratio of 15.98 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter last year, the business earned $0.72 earnings per share. Research analysts expect that NBT Bancorp will post 3.69 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.87%. The ex-dividend date is Monday, March 3rd. NBT Bancorp’s payout ratio is currently 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.