NBT Bancorp Inc. (NASDAQ:NBTB) Receives $51.75 Average Target Price from Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $51.75.

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

Insider Buying and Selling

In other news, Director Heidi M. Hoeller purchased 678 shares of the business’s stock in a transaction on Friday, February 7th. The shares were acquired at an average price of $48.45 per share, for a total transaction of $32,849.10. Following the completion of the acquisition, the director now owns 6,437 shares in the company, valued at approximately $311,872.65. The trade was a 11.77 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Amy Wiles sold 500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $51.31, for a total value of $25,655.00. Following the sale, the executive vice president now owns 27,409 shares of the company’s stock, valued at approximately $1,406,355.79. This represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,694 shares of company stock valued at $277,935 over the last ninety days. 3.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NBTB. Geode Capital Management LLC raised its holdings in shares of NBT Bancorp by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock worth $49,477,000 after acquiring an additional 10,628 shares during the last quarter. Leigh Baldwin & CO. LLC purchased a new stake in shares of NBT Bancorp in the fourth quarter worth approximately $52,606,000. Silvercrest Asset Management Group LLC bought a new position in shares of NBT Bancorp in the fourth quarter valued at approximately $38,978,000. Northern Trust Corp lifted its holdings in shares of NBT Bancorp by 4.9% in the fourth quarter. Northern Trust Corp now owns 726,413 shares of the bank’s stock valued at $34,693,000 after purchasing an additional 33,855 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of NBT Bancorp by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock valued at $32,632,000 after buying an additional 75,693 shares during the last quarter. 58.46% of the stock is owned by institutional investors.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $44.56 on Tuesday. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 15.05 and a beta of 0.52. NBT Bancorp has a twelve month low of $32.79 and a twelve month high of $52.44. The company’s fifty day moving average is $47.41 and its 200 day moving average is $47.24. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same period in the prior year, the business posted $0.72 earnings per share. Sell-side analysts forecast that NBT Bancorp will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.34 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.05%. NBT Bancorp’s payout ratio 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.