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

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $41.20.

A number of research firms recently weighed in on NBTB. Keefe, Bruyette & Woods cut their target price on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Thursday, March 21st. Finally, Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of NBT Bancorp in a research note on Tuesday, April 23rd.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $38.60 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 52-week low of $30.31 and a 52-week high of $43.77. The firm has a market cap of $1.82 billion, a PE ratio of 14.90 and a beta of 0.52. The company’s 50 day moving average is $36.62 and its two-hundred day moving average is $36.78.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. NBT Bancorp had a return on equity of 10.20% and a net margin of 16.71%. The business had revenue of $192.33 million for the quarter, compared to analysts’ expectations of $135.01 million. During the same period last year, the firm earned $0.88 earnings per share. On average, research analysts expect that NBT Bancorp will post 2.84 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.28 annualized dividend and a yield of 3.32%. NBT Bancorp’s dividend payout ratio is currently 49.42%.

Insider Buying and Selling at NBT Bancorp

In related news, EVP Sarah A. Halliday sold 1,325 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $35.66, for a total transaction of $47,249.50. Following the transaction, the executive vice president now owns 32,402 shares in the company, valued at approximately $1,155,455.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.32% of the stock is currently owned by insiders.

Institutional Trading of NBT Bancorp

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of NBT Bancorp by 8.8% during the third quarter. Vanguard Group Inc. now owns 5,515,875 shares of the bank’s stock worth $174,798,000 after purchasing an additional 445,814 shares during the last quarter. Norges Bank purchased a new position in NBT Bancorp during the 4th quarter worth $12,547,000. Hsbc Holdings PLC acquired a new stake in shares of NBT Bancorp in the 4th quarter worth $11,434,000. Russell Investments Group Ltd. boosted its holdings in shares of NBT Bancorp by 978.7% in the first quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock valued at $3,318,000 after acquiring an additional 82,071 shares in the last quarter. Finally, Mendon Capital Advisors Corp acquired a new position in shares of NBT Bancorp during the fourth quarter worth about $1,676,000. Institutional investors and hedge funds 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.