NBT Bancorp Inc. (NBTB) Receives Consensus Recommendation of “Hold” from Analysts
Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been given an average recommendation of “Hold” by the six ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $36.50.
NBTB has been the topic of several recent research reports. Boenning Scattergood raised shares of NBT Bancorp from an “under perform” rating to a “neutral” rating in a research note on Tuesday, August 15th. Zacks Investment Research raised shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday, July 28th. BidaskClub cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $35.00 target price on shares of NBT Bancorp in a research note on Sunday, September 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.50 target price on shares of NBT Bancorp in a research note on Tuesday, July 25th.
Several hedge funds have recently made changes to their positions in NBTB. BlackRock Inc. boosted its position in shares of NBT Bancorp by 47,917.6% during the 1st quarter. BlackRock Inc. now owns 5,456,241 shares of the bank’s stock valued at $202,263,000 after acquiring an additional 5,444,878 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of NBT Bancorp by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 4,067,362 shares of the bank’s stock valued at $150,777,000 after acquiring an additional 279,331 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NBT Bancorp by 28.9% during the 1st quarter. Bank of New York Mellon Corp now owns 796,715 shares of the bank’s stock valued at $29,534,000 after acquiring an additional 178,423 shares during the last quarter. State Street Corp boosted its position in shares of NBT Bancorp by 14.1% during the 1st quarter. State Street Corp now owns 1,246,976 shares of the bank’s stock valued at $46,225,000 after acquiring an additional 154,441 shares during the last quarter. Finally, Citadel Advisors LLC boosted its position in shares of NBT Bancorp by 440.7% during the 2nd quarter. Citadel Advisors LLC now owns 72,367 shares of the bank’s stock valued at $2,674,000 after acquiring an additional 58,984 shares during the last quarter. 49.20% of the stock is currently owned by hedge funds and other institutional investors.
NBT Bancorp (NASDAQ NBTB) traded down 0.21% during trading on Friday, reaching $37.32. 51,071 shares of the company’s stock traded hands. NBT Bancorp has a one year low of $31.28 and a one year high of $42.56. The company has a 50-day moving average price of $34.35 and a 200 day moving average price of $36.16. The firm has a market capitalization of $1.62 billion, a PE ratio of 20.06 and a beta of 0.91.
NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, July 24th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. NBT Bancorp had a net margin of 19.68% and a return on equity of 8.81%. The company had revenue of $99.93 million for the quarter, compared to analysts’ expectations of $100.91 million. During the same quarter in the previous year, the company posted $0.46 EPS. On average, analysts anticipate that NBT Bancorp will post $1.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.47%. NBT Bancorp’s payout ratio is 49.46%.
NBT Bancorp Company Profile
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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