Brokerages Set NBT Bancorp Inc. (NASDAQ:NBTB) PT at $54.50

NBT Bancorp Inc. (NASDAQ:NBTB) has been given a consensus recommendation of “Moderate Buy” by the five analysts that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $54.50.

A number of equities analysts recently issued reports on the company. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. DA Davidson initiated coverage on NBT Bancorp in a research report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target on the stock. Hovde Group started coverage on shares of NBT Bancorp in a research note on Friday, March 21st. They set a “market perform” rating and a $50.00 price target on the stock. Finally, Stephens upgraded 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 Buying and Selling at NBT Bancorp

In other news, EVP Sarah A. Halliday sold 5,000 shares of the company’s stock in a transaction 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 in the company, valued at $1,238,575.80. This represents a 16.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Heidi M. Hoeller purchased 678 shares of the stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $48.45 per share, with a total value of $32,849.10. Following the transaction, the director now owns 6,437 shares of the company’s stock, valued at $311,872.65. This trade represents a 11.77 % increase in their position. The disclosure for this purchase can be found here. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

Large investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in shares of NBT Bancorp during the third quarter worth $57,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in NBT Bancorp during the third quarter worth $342,000. Intech Investment Management LLC bought a new position in shares of NBT Bancorp in the 3rd quarter worth about $365,000. Charles Schwab Investment Management Inc. lifted its holdings in NBT Bancorp by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 585,636 shares of the bank’s stock worth $25,903,000 after acquiring an additional 7,294 shares during the last quarter. Finally, Independent Advisor Alliance acquired a new stake in shares of NBT Bancorp during the 3rd quarter worth approximately $221,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Trading Down 2.1 %

Shares of NBT Bancorp stock opened at $38.83 on Friday. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 13.12 and a beta of 0.53. 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 has a fifty-two week low of $32.93 and a fifty-two week high of $52.44. The stock has a 50 day moving average of $45.51 and a 200 day moving average of $46.65.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results 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 last year, the firm posted $0.72 EPS. As a group, research analysts predict that NBT Bancorp will post 3.69 earnings per share for the current year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Monday, March 3rd. NBT Bancorp’s dividend payout ratio is presently 45.95%.

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.