NBT Bancorp Inc. (NBTB) Reaches New 12-Month Low at $31.57
NBT Bancorp Inc. (NASDAQ:NBTB)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $31.57 and last traded at $31.59, with a volume of 41,063 shares. The stock had previously closed at $32.16.
NBTB has been the topic of a number of recent analyst reports. Boenning Scattergood upgraded NBT Bancorp from an “under perform” rating to a “neutral” rating in a research report on Tuesday, August 15th. Zacks Investment Research downgraded NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, September 2nd. BidaskClub downgraded NBT Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $35.50 price target on shares of NBT Bancorp in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $36.00.
The firm’s 50-day moving average is $34.18 and its 200-day moving average is $36.87. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 17.27 and a beta of 0.90.
NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, July 24th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. NBT Bancorp had a return on equity of 8.81% and a net margin of 19.68%. The company had revenue of $99.93 million for the quarter, compared to analysts’ expectations of $100.91 million. During the same quarter in the previous year, the firm posted $0.46 EPS. Analysts expect that NBT Bancorp Inc. will post $1.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, August 30th. NBT Bancorp’s payout ratio is 49.46%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in NBTB. Bank of Montreal Can grew its holdings in shares of NBT Bancorp by 26.0% in the 1st quarter. Bank of Montreal Can now owns 2,931 shares of the bank’s stock worth $109,000 after acquiring an additional 604 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of NBT Bancorp in the 1st quarter worth approximately $136,000. State of Alaska Department of Revenue grew its holdings in shares of NBT Bancorp by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 4,790 shares of the bank’s stock worth $177,000 after acquiring an additional 130 shares during the period. Biondo Investment Advisors LLC acquired a new stake in shares of NBT Bancorp in the 2nd quarter worth approximately $201,000. Finally, Amalgamated Bank grew its holdings in shares of NBT Bancorp by 1.1% in the 2nd quarter. Amalgamated Bank now owns 5,814 shares of the bank’s stock worth $215,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 49.20% of the company’s stock.
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About NBT Bancorp
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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