NBT Bancorp (NASDAQ:NBTB) Stock Rating Reaffirmed by Stephens

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

Separately, Keefe, Bruyette & Woods dropped their target price on shares of NBT Bancorp from $41.00 to $39.00 and set a market perform rating on the stock in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $42.60.

NBT Bancorp Trading Up 0.9 %

Shares of NASDAQ:NBTB opened at $49.84 on Tuesday. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 19.24 and a beta of 0.52. NBT Bancorp has a 1-year low of $30.31 and a 1-year high of $50.83. The company has a 50 day moving average price of $39.08 and a 200 day moving average price of $36.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, July 22nd. The bank reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. The company had revenue of $194.00 million during the quarter, compared to analyst estimates of $139.02 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, research analysts anticipate that NBT Bancorp will post 2.82 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.34 per share. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 30th. This represents a $1.36 annualized dividend and a dividend yield of 2.73%. NBT Bancorp’s dividend payout ratio is 49.42%.

Insider Activity

In other NBT Bancorp news, EVP Sarah A. Halliday sold 1,325 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $35.66, for a total value of $47,249.50. Following the completion of the sale, the executive vice president now owns 32,402 shares of the company’s stock, valued at $1,155,455.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.32% of the stock is owned by insiders.

Hedge Funds Weigh In On NBT Bancorp

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of NBT Bancorp by 8.8% in the third quarter. Vanguard Group Inc. now owns 5,515,875 shares of the bank’s stock valued at $174,798,000 after purchasing an additional 445,814 shares during the last quarter. Raymond James & Associates boosted its stake in NBT Bancorp by 1.5% during the 4th quarter. Raymond James & Associates now owns 73,518 shares of the bank’s stock valued at $3,081,000 after purchasing an additional 1,058 shares during the period. Blue Trust Inc. grew its holdings in NBT Bancorp by 69.9% in the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after buying an additional 276 shares during the last quarter. BLB&B Advisors LLC bought a new position in NBT Bancorp in the 4th quarter worth approximately $589,000. Finally, Ascent Wealth Partners LLC acquired a new position in shares of NBT Bancorp during the fourth quarter worth approximately $204,000. Institutional investors own 58.46% of the company’s stock.

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.