NBT Bancorp Inc. (NASDAQ:NBTB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $51.75.

NBTB has been the subject of several research analyst reports. Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price target on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson initiated coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target for the company. Finally, StockNews.com downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $51.31, for a total value of $25,655.00. Following the transaction, the executive vice president now owns 27,409 shares in the company, valued at approximately $1,406,355.79. This represents a 1.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heidi M. Hoeller acquired 678 shares of the company’s stock in a transaction on Friday, February 7th. The stock was bought at an average price of $48.45 per share, for a total transaction of $32,849.10. Following the purchase, the director now owns 6,437 shares in the company, valued at approximately $311,872.65. This trade represents a 11.77 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 5,694 shares of company stock worth $277,935. 3.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NBTB. Quest Partners LLC acquired a new position in shares of NBT Bancorp during the 3rd quarter worth $57,000. US Bancorp DE acquired a new position in shares of NBT Bancorp during the 3rd quarter worth $57,000. GAMMA Investing LLC increased its stake in shares of NBT Bancorp by 66.5% during the 4th quarter. GAMMA Investing LLC now owns 1,295 shares of the bank’s stock worth $62,000 after purchasing an additional 517 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of NBT Bancorp by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank’s stock worth $69,000 after purchasing an additional 1,292 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in shares of NBT Bancorp during the 4th quarter worth $87,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NASDAQ NBTB opened at $47.31 on Tuesday. The stock’s fifty day simple moving average is $47.67 and its 200 day simple moving average is $47.28. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 15.98 and a beta of 0.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 52-week low of $32.79 and a 52-week high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share 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 period in the previous year, the firm posted $0.72 earnings per share. As a group, sell-side analysts forecast that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.34 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.36 annualized dividend and a yield of 2.87%. NBT Bancorp’s dividend payout ratio is presently 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.