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

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been given an average recommendation of “Moderate Buy” by the five research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $52.00.

A number of equities analysts have commented on the company. Brean Capital cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Piper Sandler started coverage on NBT Bancorp in a research report on Monday, March 16th. They set an “overweight” rating and a $50.00 price target for the company. DA Davidson assumed coverage on NBT Bancorp in a research note on Wednesday, February 25th. They issued a “buy” rating and a $54.00 price objective for the company. Janney Montgomery Scott lowered NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. Finally, Weiss Ratings raised shares of NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, Director Timothy E. Delaney acquired 22,730 shares of the company’s stock in a transaction that occurred on Wednesday, January 28th. The stock was bought at an average price of $42.97 per share, with a total value of $976,708.10. Following the purchase, the director owned 74,615 shares in the company, valued at approximately $3,206,206.55. The trade was a 43.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Amy Wiles sold 4,435 shares of the 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 completion of the sale, the executive vice president owned 21,500 shares of the company’s stock, valued at approximately $982,980. The trade was a 17.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.03% of the company’s stock.

Institutional Trading of NBT Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Savant Capital LLC grew its holdings in shares of NBT Bancorp by 168.4% in the third quarter. Savant Capital LLC now owns 71,060 shares of the bank’s stock valued at $2,967,000 after purchasing an additional 44,585 shares during the period. SG Americas Securities LLC raised its stake in NBT Bancorp by 110.6% during the third quarter. SG Americas Securities LLC now owns 24,302 shares of the bank’s stock worth $1,015,000 after purchasing an additional 12,761 shares during the period. Norges Bank purchased a new position in NBT Bancorp during the second quarter worth about $1,646,000. JPMorgan Chase & Co. boosted its holdings in NBT Bancorp by 26.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock valued at $13,986,000 after purchasing an additional 70,594 shares during the last quarter. Finally, Endeavour Capital Advisors Inc. acquired a new position in NBT Bancorp in the 2nd quarter valued at about $3,371,000. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $40.71 on Friday. The stock has a market capitalization of $2.13 billion, a P/E ratio of 12.34 and a beta of 0.50. The company’s fifty day moving average price is $43.68 and its 200 day moving average price is $42.59. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. NBT Bancorp has a 1 year low of $37.31 and a 1 year high of $46.92.

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

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, March 2nd. NBT Bancorp’s dividend payout ratio (DPR) is currently 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.