NBT Bancorp (NASDAQ:NBTB) Hits New 1-Year High – Should You Buy?

NBT Bancorp Inc. (NASDAQ:NBTB) hit a new 52-week high on Monday . The company traded as high as $52.15 and last traded at $51.77, with a volume of 6469 shares. The stock had previously closed at $50.45.

Analyst Ratings Changes

A number of analysts have recently commented on NBTB shares. StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Stephens restated an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NBT Bancorp currently has an average rating of “Hold” and a consensus price target of $42.60.

NBT Bancorp Stock Up 2.1 %

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average price is $45.81 and its two-hundred day moving average price is $43.21. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 17.76 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period in the previous year, the business posted $0.84 earnings per share. Sell-side analysts anticipate that NBT Bancorp Inc. will post 2.91 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is 47.89%.

Insider Activity

In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the transaction, the director now owns 517,558 shares of the company’s stock, valued at approximately $22,824,307.80. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the transaction, the director now owns 38,853 shares of the company’s stock, valued at approximately $1,999,763.91. This represents a 50.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,556 shares of company stock worth $8,039,690. Corporate insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in NBT Bancorp by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock valued at $88,675,000 after purchasing an additional 46,498 shares during the period. Geode Capital Management LLC increased its position in shares of NBT Bancorp by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock worth $49,477,000 after buying an additional 10,628 shares during the period. Deprince Race & Zollo Inc. raised its stake in NBT Bancorp by 14.9% during the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after buying an additional 107,404 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in NBT Bancorp by 540.2% in the second quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock valued at $27,147,000 after buying an additional 593,436 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in NBT Bancorp by 36.7% during the second quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock valued at $24,307,000 after acquiring an additional 169,180 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors.

About NBT Bancorp

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.