NBT Bancorp Inc. (NASDAQ:NBTB) Receives Average Recommendation of “Hold” from Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $42.60.

NBTB has been the topic of a number of research analyst reports. Stephens reissued an “equal weight” rating and issued a $49.00 price target on shares of NBT Bancorp in a research note on Tuesday, September 10th. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th.

NBT Bancorp Stock Up 0.5 %

NBTB opened at $45.18 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.13 billion, a P/E ratio of 17.44 and a beta of 0.50. NBT Bancorp has a 52 week low of $30.31 and a 52 week high of $50.83. The business’s fifty day simple moving average is $46.24 and its 200 day simple moving average is $39.65.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. The company had revenue of $194.00 million for the quarter, compared to analyst estimates of $139.02 million. During the same period in the previous year, the business earned $0.80 EPS. As a group, equities research analysts anticipate that NBT Bancorp will post 2.86 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.01%. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is 52.51%.

Insider Transactions at NBT Bancorp

In other news, EVP Martin Randolph Sparks sold 1,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the transaction, the executive vice president now directly owns 15,003 shares in the company, valued at approximately $725,695.11. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other NBT Bancorp news, Director V Daniel Robinson II sold 30,000 shares of NBT Bancorp stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $44.78, for a total transaction of $1,343,400.00. Following the sale, the director now directly owns 387,558 shares in the company, valued at approximately $17,354,847.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Martin Randolph Sparks sold 1,000 shares of NBT Bancorp stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the completion of the transaction, the executive vice president now owns 15,003 shares of the company’s stock, valued at approximately $725,695.11. The disclosure for this sale can be found here. Insiders have sold a total of 101,556 shares of company stock worth $4,527,790 in the last three months. 3.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC bought a new stake in NBT Bancorp during the 1st quarter valued at $27,000. SG Americas Securities LLC bought a new stake in NBT Bancorp during the 1st quarter valued at $178,000. Union Savings Bank raised its stake in NBT Bancorp by 4,075.0% during the 1st quarter. Union Savings Bank now owns 4,843 shares of the bank’s stock valued at $178,000 after acquiring an additional 4,727 shares in the last quarter. AQR Capital Management LLC bought a new stake in NBT Bancorp during the 2nd quarter valued at $214,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in NBT Bancorp during the 1st quarter valued at $332,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

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.