Analysts Set NBT Bancorp Inc. (NASDAQ:NBTB) Target Price at $54.50

NBT Bancorp Inc. (NASDAQ:NBTB) has received an average rating of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $54.50.

Several research analysts have recently issued reports on NBTB shares. Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price target on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research note 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. StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Finally, Hovde Group began coverage on shares of NBT Bancorp in a research note on Friday, March 21st. They set a “market perform” rating and a $50.00 price target on the stock.

Insider Buying and Selling

In other NBT Bancorp news, Director Heidi M. Hoeller purchased 678 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the transaction, the director now directly 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 purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction on Monday, February 10th. The shares were sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the transaction, the executive vice president now owns 25,564 shares of the company’s stock, valued at approximately $1,238,575.80. The trade was a 16.36 % decrease in their position. The disclosure for this sale can be found here. 3.32% of the stock is owned by corporate insiders.

Institutional Trading of NBT Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in NBTB. Leigh Baldwin & CO. LLC bought a new stake in NBT Bancorp during the 4th quarter worth about $1,168,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of NBT Bancorp by 13.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,895 shares of the bank’s stock valued at $6,825,000 after purchasing an additional 17,225 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of NBT Bancorp by 48.0% in the fourth quarter. Voloridge Investment Management LLC now owns 36,179 shares of the bank’s stock valued at $1,728,000 after purchasing an additional 11,730 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in shares of NBT Bancorp in the fourth quarter valued at approximately $38,978,000. Finally, ProShare Advisors LLC raised its position in NBT Bancorp by 4.7% in the 4th quarter. ProShare Advisors LLC now owns 167,503 shares of the bank’s stock worth $8,000,000 after purchasing an additional 7,500 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Stock Performance

NBTB opened at $42.90 on Friday. 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 50 day moving average price is $46.09 and its two-hundred day moving average price is $46.79. The firm has a market capitalization of $2.03 billion, a P/E ratio of 14.49 and a beta of 0.48. NBT Bancorp has a 12-month low of $32.93 and a 12-month high of $52.44.

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

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Monday, March 3rd. NBT Bancorp’s payout ratio is 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.