Analysts Set NBT Bancorp Inc. (NASDAQ:NBTB) Target Price at $48.80

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $48.80.

A number of analysts recently issued reports on NBTB shares. Keefe, Bruyette & Woods increased their price objective on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. DA Davidson started coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective on the stock. Finally, StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th.

Insiders Place Their Bets

In other news, Director Timothy E. Delaney sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the transaction, the director now directly owns 38,853 shares of the company’s stock, valued at approximately $1,999,763.91. The trade was a 50.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John H. Watt, Jr. sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total value of $909,000.00. Following the transaction, the director now directly owns 143,101 shares in the company, valued at $6,503,940.45. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,694 shares of company stock valued at $4,048,185 in the last ninety days. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

Several hedge funds have recently made changes to their positions in NBTB. Assenagon Asset Management S.A. purchased a new position in shares of NBT Bancorp during the fourth quarter valued at approximately $12,007,000. Eagle Asset Management Inc. increased its stake in shares of NBT Bancorp by 76.3% during the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after buying an additional 163,952 shares during the period. Deprince Race & Zollo Inc. increased its stake in shares of NBT Bancorp by 14.9% during the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock valued at $31,978,000 after buying an additional 107,404 shares during the period. Ceredex Value Advisors LLC increased its stake in shares of NBT Bancorp by 40.9% during the third quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock valued at $13,680,000 after buying an additional 89,800 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of NBT Bancorp by 55.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock valued at $9,946,000 after buying an additional 80,232 shares during the period. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Stock Up 1.2 %

NBTB stock opened at $47.62 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 16.77 and a beta of 0.53. NBT Bancorp has a fifty-two week low of $32.79 and a fifty-two week high of $52.44. The stock has a fifty day moving average of $49.11 and a 200-day moving average of $46.40.

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

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.34 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.86%. NBT Bancorp’s dividend payout ratio (DPR) is currently 47.89%.

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.