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

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have earned an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $54.50.

NBTB has been the subject of a number of analyst reports. DA Davidson initiated coverage on NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective for the company. Hovde Group assumed coverage on shares of NBT Bancorp in a research note on Friday, March 21st. They set a “market perform” rating and a $50.00 price target on the stock. StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Finally, Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a report on Wednesday, January 29th.

Insider Transactions at NBT Bancorp

In related news, EVP Sarah A. Halliday sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the sale, the executive vice president now owns 25,564 shares in the company, valued at approximately $1,238,575.80. The trade was a 16.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Heidi M. Hoeller purchased 678 shares of the stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $48.45 per share, with a total value of $32,849.10. Following the transaction, the director now directly owns 6,437 shares in the company, valued at approximately $311,872.65. This trade represents a 11.77 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

Institutional investors have recently made changes to their positions in the business. Leigh Baldwin & CO. LLC purchased a new stake in NBT Bancorp during the 4th quarter valued at about $52,606,000. Silvercrest Asset Management Group LLC acquired a new stake in NBT Bancorp during the fourth quarter valued at $38,978,000. Raymond James Financial Inc. purchased a new position in shares of NBT Bancorp in the 4th quarter valued at about $23,651,000. JPMorgan Chase & Co. raised its stake in shares of NBT Bancorp by 307.0% during the 4th quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank’s stock worth $17,998,000 after buying an additional 284,267 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of NBT Bancorp during the fourth quarter worth about $12,007,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Stock Down 2.1 %

NBTB stock opened at $38.83 on Friday. NBT Bancorp has a 1-year low of $32.93 and a 1-year high of $52.44. The company’s 50 day moving average is $45.51 and its 200 day moving average is $46.65. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 13.12 and a beta of 0.53. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same period in the previous year, the business posted $0.72 EPS. Sell-side analysts predict that NBT Bancorp will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Monday, March 3rd. NBT Bancorp’s dividend payout ratio is currently 45.95%.

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.