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

NBT Bancorp Inc. (NASDAQ:NBTB) has received a consensus rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $50.6667.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of NBT Bancorp in a research note on Monday, December 29th.

Insider Buying and Selling at NBT Bancorp

In other news, Director Timothy E. Delaney acquired 22,730 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The shares were purchased at an average cost of $42.97 per share, for a total transaction of $976,708.10. Following the transaction, the director directly owned 74,615 shares in the company, valued at $3,206,206.55. This trade represents a 43.81% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amy Wiles sold 4,435 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $45.72, for a total transaction of $202,768.20. Following the transaction, the executive vice president directly owned 21,500 shares of the company’s stock, valued at $982,980. The trade was a 17.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On NBT Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after acquiring an additional 609 shares during the period. Hantz Financial Services Inc. bought a new position in shares of NBT Bancorp in the second quarter worth $33,000. Larson Financial Group LLC increased its holdings in shares of NBT Bancorp by 13,316.7% during the third quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after purchasing an additional 799 shares during the period. Flagship Wealth Advisors LLC bought a new stake in shares of NBT Bancorp during the third quarter valued at about $42,000. Finally, Global Retirement Partners LLC lifted its holdings in NBT Bancorp by 62.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock worth $43,000 after purchasing an additional 399 shares during the period. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $45.63 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. NBT Bancorp has a 12 month low of $37.31 and a 12 month high of $47.93. The company has a fifty day moving average price of $43.94 and a two-hundred day moving average price of $42.69. The company has a market cap of $2.39 billion, a PE ratio of 13.83 and a beta of 0.51.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, January 26th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. NBT Bancorp had a net margin of 18.67% and a return on equity of 10.86%. The company had revenue of $185.14 million for the quarter, compared to the consensus estimate of $183.63 million. Research analysts expect that NBT Bancorp will post 3.69 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, March 2nd. NBT Bancorp’s dividend payout ratio is presently 44.85%.

About NBT Bancorp

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.