NBT Bancorp (NASDAQ:NBTB) Coverage Initiated by Analysts at Hovde Group

Hovde Group assumed coverage on shares of NBT Bancorp (NASDAQ:NBTB) in a research note published on Friday morning, Marketbeat.com reports. The brokerage issued a market perform rating and a $50.00 price target on the bank’s stock.

A number of other research firms also recently commented on NBTB. Keefe, Bruyette & Woods boosted their price objective on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Stephens raised NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a research report on Wednesday, January 29th. Finally, DA Davidson started coverage on NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.50.

NBT Bancorp Stock Down 0.9 %

NBTB opened at $42.80 on Friday. NBT Bancorp has a one year low of $32.93 and a one year high of $52.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s fifty day moving average is $46.54 and its 200-day moving average is $46.88. The company has a market capitalization of $2.02 billion, a PE ratio of 14.46 and a beta of 0.48.

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

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.34 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.18%. NBT Bancorp’s dividend payout ratio is 45.95%.

Insider Activity

In other NBT Bancorp news, Director Heidi M. Hoeller purchased 678 shares of the stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $48.45 per share, for a total transaction of $32,849.10. Following the completion of the acquisition, the director now owns 6,437 shares of the company’s stock, valued at $311,872.65. This represents a 11.77 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction on Monday, February 10th. The shares were sold at an average price of $48.45, for a total value of $242,250.00. Following the transaction, the executive vice president now owns 25,564 shares in the company, valued at $1,238,575.80. This represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Eagle Asset Management Inc. grew its stake in NBT Bancorp by 76.3% in the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after purchasing an additional 163,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of NBT Bancorp by 55.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock valued at $9,946,000 after buying an additional 80,232 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of NBT Bancorp by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock valued at $32,632,000 after buying an additional 75,693 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of NBT Bancorp in the 3rd quarter valued at approximately $439,000. Finally, Barclays PLC increased its holdings in NBT Bancorp by 41.8% in the third quarter. Barclays PLC now owns 91,880 shares of the bank’s stock worth $4,064,000 after buying an additional 27,085 shares during the last quarter. Hedge funds and other institutional investors 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.