Analysts Set NBT Bancorp Inc. (NASDAQ:NBTB) Price Target at $48.17

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $48.17.

NBTB has been the topic of a number of analyst reports. DA Davidson started coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Stephens reiterated an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a report on Tuesday, September 10th.

Insider Transactions at NBT Bancorp

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

Institutional Investors Weigh In On NBT Bancorp

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased 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 period. US Bancorp DE bought a new position in NBT Bancorp during the third quarter valued at about $57,000. Quest Partners LLC acquired a new stake in shares of NBT Bancorp during the 3rd quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of NBT Bancorp during the third quarter valued at approximately $103,000. Finally, AQR Capital Management LLC bought a new position in NBT Bancorp in the second quarter worth $214,000. 58.46% of the stock is currently owned by institutional investors.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $48.88 on Thursday. The company has a market capitalization of $2.31 billion, a PE ratio of 17.21 and a beta of 0.52. NBT Bancorp has a 52 week low of $32.79 and a 52 week high of $52.44. 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’s fifty day moving average is $48.28 and its two-hundred day moving average is $44.98.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The business had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. During the same period in the prior year, the company earned $0.84 earnings per share. As a group, analysts expect that NBT Bancorp will post 2.94 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Monday, December 2nd. NBT Bancorp’s payout ratio is 47.89%.

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.