NBT Bancorp Inc. (NASDAQ:NBTB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $48.17.

NBTB has been the topic of several research analyst reports. Stephens restated an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. DA Davidson started 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 on the stock. Keefe, Bruyette & Woods raised their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday.

Insiders Place Their Bets

In related news, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the sale, the executive vice president now directly owns 27,409 shares in the company, valued at $1,406,355.79. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy E. Delaney sold 40,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the transaction, the director now owns 38,853 shares in the company, valued at $1,999,763.91. This trade represents a 50.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,694 shares of company stock valued at $4,048,185 in the last quarter. 3.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NBTB. GAMMA Investing LLC grew its holdings in NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after acquiring an additional 252 shares in the last quarter. US Bancorp DE bought a new position in NBT Bancorp in the third quarter worth about $57,000. Quest Partners LLC purchased a new stake in shares of NBT Bancorp during the third quarter valued at about $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of NBT Bancorp during the third quarter valued at about $103,000. Finally, AQR Capital Management LLC bought a new stake in shares of NBT Bancorp in the 2nd quarter valued at about $214,000. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Trading Down 4.7 %

Shares of NASDAQ NBTB opened at $48.46 on Thursday. NBT Bancorp has a 1 year low of $32.79 and a 1 year high of $52.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50-day moving average of $48.11 and a 200 day moving average of $44.80. The stock has a market cap of $2.29 billion, a P/E ratio of 17.06 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same period in the previous year, the company posted $0.84 earnings per share. As a group, sell-side analysts expect that NBT Bancorp will post 2.94 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.81%. NBT Bancorp’s payout ratio is 47.89%.

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.