NBT Bancorp Inc. (NASDAQ:NBTB) Receives $42.60 Consensus Target Price from Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has been assigned a consensus rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $42.60.

A number of research analysts have recently commented on NBTB shares. StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. Stephens reiterated an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. Finally, Raymond James downgraded shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th.

Insider Buying and Selling

In other news, Director John H. Watt, Jr. sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total value of $909,000.00. Following the sale, the director now directly owns 143,101 shares in the company, valued at approximately $6,503,940.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other NBT Bancorp news, EVP Martin Randolph Sparks sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.37, for a total transaction of $48,370.00. Following the sale, the executive vice president now directly owns 15,003 shares of the company’s stock, valued at approximately $725,695.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John H. Watt, Jr. sold 20,000 shares of NBT Bancorp stock in a transaction that occurred 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 completion of the transaction, the director now owns 143,101 shares of the company’s stock, valued at $6,503,940.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,556 shares of company stock valued at $5,436,790 over the last quarter. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in NBT Bancorp by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 5,642,447 shares of the bank’s stock worth $236,475,000 after purchasing an additional 126,572 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in NBT Bancorp by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock worth $88,675,000 after buying an additional 46,498 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in NBT Bancorp by 14.9% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after acquiring an additional 107,404 shares during the last quarter. Victory Capital Management Inc. increased its position in NBT Bancorp by 540.2% in the 2nd quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock valued at $27,147,000 after acquiring an additional 593,436 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in NBT Bancorp by 36.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock valued at $24,307,000 after acquiring an additional 169,180 shares in the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Stock Up 0.2 %

Shares of NBTB stock opened at $44.56 on Wednesday. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 15.69 and a beta of 0.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s 50 day simple moving average is $45.32 and its 200 day simple moving average is $41.63. NBT Bancorp has a twelve month low of $32.79 and a twelve month high of $50.83.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period in the previous year, the company earned $0.84 earnings per share. As a group, research analysts predict that NBT Bancorp will post 2.89 EPS for the current year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.34 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 3.05%. NBT Bancorp’s payout ratio is currently 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.