NBT Bancorp Inc. (NASDAQ:NBTB) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $48.80.

Several equities analysts have commented on the stock. DA Davidson initiated coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target on the stock. StockNews.com downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Insiders Place Their Bets

In other NBT Bancorp news, EVP Amy Wiles sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $50.10, for a total transaction of $50,100.00. Following the completion of the sale, the executive vice president now directly owns 27,909 shares of the company’s stock, valued at $1,398,240.90. This represents a 3.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John H. Watt, Jr. sold 20,000 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total value of $909,000.00. Following the completion of the transaction, the director now owns 143,101 shares in the company, valued at $6,503,940.45. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,694 shares of company stock valued at $4,048,185. Insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in NBT Bancorp by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after buying an additional 252 shares during the period. US Bancorp DE purchased a new stake in shares of NBT Bancorp in the third quarter valued at about $57,000. Quest Partners LLC acquired a new position in shares of NBT Bancorp during the third quarter worth about $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in NBT Bancorp during the third quarter worth about $103,000. Finally, Focused Wealth Management Inc acquired a new stake in NBT Bancorp in the third quarter valued at about $217,000. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $47.86 on Monday. 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 company has a fifty day simple moving average of $49.05 and a 200-day simple moving average of $46.47. The stock has a market cap of $2.26 billion, a P/E ratio of 16.85 and a beta of 0.53. NBT Bancorp has a 12-month low of $32.79 and a 12-month high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The company had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. During the same period in the previous year, the business earned $0.84 EPS. Equities analysts expect that NBT Bancorp will post 2.95 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.36 annualized dividend and a yield of 2.84%. NBT Bancorp’s dividend payout ratio (DPR) is 47.89%.

NBT Bancorp Company Profile

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.