NBT Bancorp (NASDAQ:NBTB) Rating Reiterated by Stephens

Stephens reiterated their overweight rating on shares of NBT Bancorp (NASDAQ:NBTB) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $42.00 target price on the bank’s stock.

A number of other brokerages have also recently commented on NBTB. Keefe, Bruyette & Woods dropped their price target on shares of NBT Bancorp from $45.00 to $41.00 and set a market perform rating on the stock in a research note on Thursday, January 25th. Raymond James upped their price target on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an outperform rating in a research note on Friday, January 5th. Janney Montgomery Scott upgraded shares of NBT Bancorp from a neutral rating to a buy rating and set a $39.00 target price on the stock in a research note on Thursday, March 21st. Finally, Piper Sandler lowered their target price on shares of NBT Bancorp from $42.00 to $41.00 and set an overweight rating on the stock in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $41.20.

NBT Bancorp Stock Down 0.4 %

NBTB opened at $35.74 on Tuesday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 13.80 and a beta of 0.51. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $34.79 and its two-hundred day moving average price is $36.23. NBT Bancorp has a twelve month low of $27.52 and a twelve month high of $43.77.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $192.33 million for the quarter, compared to analysts’ expectations of $135.01 million. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. During the same period in the prior year, the company posted $0.88 EPS. As a group, equities analysts expect that NBT Bancorp will post 2.85 earnings per share for the current year.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director Lowell A. Seifter sold 4,770 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $37.50, for a total transaction of $178,875.00. Following the completion of the sale, the director now owns 44,362 shares of the company’s stock, valued at approximately $1,663,575. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

Several institutional investors and hedge funds have recently modified their holdings of NBTB. Longfellow Investment Management Co. LLC purchased a new stake in shares of NBT Bancorp in the 3rd quarter worth about $27,000. Register Financial Advisors LLC purchased a new stake in shares of NBT Bancorp in the 1st quarter worth about $27,000. Blue Trust Inc. lifted its position in shares of NBT Bancorp by 69.9% in the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock worth $28,000 after purchasing an additional 276 shares during the period. Asset Dedication LLC purchased a new stake in shares of NBT Bancorp in the 3rd quarter worth about $37,000. Finally, Bare Financial Services Inc purchased a new stake in shares of NBT Bancorp in the 4th quarter worth about $98,000. 58.46% of the stock is owned by hedge funds and other institutional investors.

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.