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

NBT Bancorp Inc. (NASDAQ:NBTB) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $54.50.

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

Insider Activity at NBT Bancorp

In related news, EVP Sarah A. Halliday sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the transaction, the executive vice president now directly owns 25,564 shares in the company, valued at $1,238,575.80. The trade was a 16.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Heidi M. Hoeller acquired 678 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $48.45 per share, with a total value of $32,849.10. Following the acquisition, 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 disclosure for this purchase can be found here. 3.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NBT Bancorp

A number of hedge funds have recently modified their holdings of the business. Leigh Baldwin & CO. LLC purchased a new position in NBT Bancorp during the fourth quarter valued at $1,168,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NBT Bancorp by 13.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,895 shares of the bank’s stock valued at $6,825,000 after buying an additional 17,225 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of NBT Bancorp by 48.0% during the 4th quarter. Voloridge Investment Management LLC now owns 36,179 shares of the bank’s stock valued at $1,728,000 after acquiring an additional 11,730 shares during the period. Silvercrest Asset Management Group LLC purchased a new stake in NBT Bancorp in the 4th quarter worth approximately $38,978,000. Finally, ProShare Advisors LLC raised its stake in NBT Bancorp by 4.7% during the 4th quarter. ProShare Advisors LLC now owns 167,503 shares of the bank’s stock worth $8,000,000 after acquiring an additional 7,500 shares during the period. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Down 0.9 %

NBTB opened at $43.09 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 14.56 and a beta of 0.48. The company’s 50-day moving average price is $46.19 and its two-hundred day moving average price is $46.76. NBT Bancorp has a twelve month low of $32.93 and a twelve month high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data 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 return on equity of 9.39% and a net margin of 17.84%. During the same quarter in the prior year, the company earned $0.72 earnings per share. As a group, equities analysts expect that NBT Bancorp will post 3.69 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Monday, March 3rd. NBT Bancorp’s dividend payout ratio (DPR) 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.