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 six research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $49.50.

A number of analysts have commented on the stock. Janney Montgomery Scott downgraded shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Hovde Group decreased their price objective on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a report on Monday, April 27th. DA Davidson reiterated a “buy” rating and set a $52.00 price objective on shares of NBT Bancorp in a research note on Monday, April 27th. Brean Capital cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Weiss Ratings upgraded NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th.

NBT Bancorp Trading Up 1.2%

NASDAQ:NBTB opened at $44.21 on Friday. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 12.60 and a beta of 0.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp has a 1 year low of $39.19 and a 1 year high of $46.92. The business has a fifty day moving average of $43.28 and a 200-day moving average of $42.89.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). The company had revenue of $184.48 million for the quarter, compared to the consensus estimate of $185.36 million. NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. Equities analysts predict that NBT Bancorp will post 4.16 earnings per share for the current year.

Insider Activity at NBT Bancorp

In other news, EVP Amy Wiles sold 4,435 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $45.72, for a total value of $202,768.20. Following the completion of the sale, the executive vice president owned 21,500 shares in the company, valued at $982,980. This represents a 17.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.99% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in NBT Bancorp by 22.3% during the first quarter. Royal Bank of Canada now owns 40,303 shares of the bank’s stock valued at $1,729,000 after purchasing an additional 7,349 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of NBT Bancorp by 45.0% in the first quarter. AQR Capital Management LLC now owns 13,630 shares of the bank’s stock worth $585,000 after buying an additional 4,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NBT Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,388 shares of the bank’s stock valued at $1,175,000 after buying an additional 1,197 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in NBT Bancorp by 15.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 165,550 shares of the bank’s stock worth $7,102,000 after acquiring an additional 22,655 shares during the period. Finally, Jane Street Group LLC boosted its position in NBT Bancorp by 1,188.4% during the 1st quarter. Jane Street Group LLC now owns 88,284 shares of the bank’s stock worth $3,787,000 after acquiring an additional 81,432 shares during the period. 58.46% of the stock is owned by institutional investors and hedge funds.

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.