NBT Bancorp Inc. (NASDAQ:NBTB) Receives Consensus Rating of “Hold” from Analysts

NBT Bancorp Inc. (NASDAQ:NBTB) has received a consensus recommendation of “Hold” from the five research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $42.60.

NBTB has been the topic of several recent research reports. Raymond James downgraded shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Stephens lowered shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $42.00 to $49.00 in a research note on Thursday, July 25th.

NBT Bancorp Stock Up 0.4 %

Shares of NBT Bancorp stock opened at $46.47 on Friday. NBT Bancorp has a twelve month low of $30.31 and a twelve month high of $50.83. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 17.94 and a beta of 0.52. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The business’s 50 day simple moving average is $42.65 and its 200-day simple moving average is $37.96.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, July 22nd. The bank reported $0.69 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $0.80 earnings per share. Equities research analysts forecast that NBT Bancorp will post 2.84 earnings per share for the current year.

NBT Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.93%. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, August 30th. NBT Bancorp’s payout ratio is 52.51%.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, EVP Sarah A. Halliday sold 1,325 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $35.66, for a total transaction of $47,249.50. Following the completion of the transaction, the executive vice president now directly owns 32,402 shares of the company’s stock, valued at approximately $1,155,455.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System increased its position in shares of NBT Bancorp by 2.0% in the second quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock worth $509,000 after acquiring an additional 258 shares in the last quarter. Beacon Pointe Advisors LLC grew its position in NBT Bancorp by 2.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 18,103 shares of the bank’s stock worth $759,000 after purchasing an additional 394 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in NBT Bancorp by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock valued at $915,000 after purchasing an additional 400 shares during the period. Texas Permanent School Fund Corp lifted its holdings in shares of NBT Bancorp by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 41,211 shares of the bank’s stock valued at $1,512,000 after purchasing an additional 534 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of NBT Bancorp by 6.9% in the first quarter. Inspire Investing LLC now owns 9,759 shares of the bank’s stock valued at $358,000 after purchasing an additional 634 shares in the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

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.