NBT Bancorp (NASDAQ:NBTB) Research Coverage Started at Piper Sandler

Piper Sandler began coverage on shares of NBT Bancorp (NASDAQ:NBTB) in a report published on Monday, MarketBeat.com reports. The firm issued an overweight rating and a $50.00 price objective on the bank’s stock.

A number of other analysts also recently issued reports on the stock. Janney Montgomery Scott downgraded shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. Weiss Ratings raised shares of NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Brean Capital downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, DA Davidson initiated coverage on NBT Bancorp in a research note on Wednesday, February 25th. They issued a “buy” rating and a $54.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.33.

NBT Bancorp Stock Down 1.7%

NBTB stock opened at $40.62 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 12.31 and a beta of 0.50. The business’s fifty day moving average price is $43.77 and its two-hundred day moving average price is $42.62. NBT Bancorp has a fifty-two week low of $37.31 and a fifty-two week high of $46.92.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, January 26th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $183.63 million. On average, equities analysts anticipate that NBT Bancorp will post 3.69 earnings per share for the current year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, March 2nd. NBT Bancorp’s dividend payout ratio is presently 44.85%.

Insider Activity

In other NBT Bancorp news, EVP Amy Wiles sold 4,435 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $45.72, for a total value 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. This trade represents a 17.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy E. Delaney purchased 22,730 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were purchased at an average cost of $42.97 per share, with a total value of $976,708.10. Following the acquisition, the director owned 74,615 shares in the company, valued at $3,206,206.55. This trade represents a 43.81% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On NBT Bancorp

A number of large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. increased its stake in shares of NBT Bancorp by 206.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,004 shares of the bank’s stock valued at $83,000 after purchasing an additional 1,349 shares during the last quarter. Union Savings Bank bought a new stake in shares of NBT Bancorp during the 4th quarter worth $306,000. Mercer Global Advisors Inc. ADV boosted its stake in NBT Bancorp by 10.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 36,266 shares of the bank’s stock valued at $1,506,000 after buying an additional 3,378 shares in the last quarter. Voloridge Investment Management LLC grew its position in NBT Bancorp by 6.3% in the fourth quarter. Voloridge Investment Management LLC now owns 27,823 shares of the bank’s stock valued at $1,155,000 after acquiring an additional 1,645 shares during the last quarter. Finally, Numerai GP LLC raised its stake in NBT Bancorp by 4.3% during the fourth quarter. Numerai GP LLC now owns 37,115 shares of the bank’s stock worth $1,541,000 after acquiring an additional 1,524 shares in the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Company Profile

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.