Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been given an average rating of “Hold” by the seven brokerages that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $38.88.

NBTB has been the topic of several recent analyst reports. Zacks Investment Research raised shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Thursday, October 26th. BidaskClub downgraded shares of NBT Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Sandler O’Neill set a $38.00 price objective on shares of NBT Bancorp and gave the company a “hold” rating in a report on Wednesday, January 3rd. Boenning Scattergood reaffirmed a “hold” rating on shares of NBT Bancorp in a report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $40.50 price objective on shares of NBT Bancorp in a report on Monday, February 5th.

Shares of NBT Bancorp (NASDAQ:NBTB) traded up $0.74 during midday trading on Friday, reaching $36.35. 122,900 shares of the company were exchanged, compared to its average volume of 120,925. NBT Bancorp has a 12-month low of $31.28 and a 12-month high of $42.28. The stock has a market capitalization of $1,550.38, a P/E ratio of 18.08 and a beta of 0.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.85 and a quick ratio of 0.83.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, January 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.03). The firm had revenue of $104.92 million for the quarter, compared to analysts’ expectations of $103.52 million. NBT Bancorp had a return on equity of 9.16% and a net margin of 19.07%. During the same period last year, the company posted $0.45 earnings per share. equities analysts predict that NBT Bancorp will post 2.44 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.53%. The ex-dividend date is Wednesday, February 28th. NBT Bancorp’s payout ratio is 49.20%.

NBT Bancorp declared that its board has initiated a stock buyback plan on Monday, October 23rd that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Robert A. Wadsworth sold 1,625 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $37.20, for a total value of $60,450.00. Following the transaction, the director now directly owns 16,194 shares of the company’s stock, valued at $602,416.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael J. Chewens sold 4,190 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $38.41, for a total transaction of $160,937.90. Following the completion of the transaction, the chief financial officer now directly owns 59,443 shares in the company, valued at $2,283,205.63. The disclosure for this sale can be found here. Company insiders own 3.07% of the company’s stock.

Large investors have recently bought and sold shares of the company. CIBC Asset Management Inc purchased a new position in shares of NBT Bancorp in the fourth quarter worth about $208,000. Amalgamated Bank lifted its stake in shares of NBT Bancorp by 1.1% in the second quarter. Amalgamated Bank now owns 5,814 shares of the bank’s stock worth $215,000 after buying an additional 66 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of NBT Bancorp in the second quarter worth about $218,000. Crossmark Global Holdings Inc. purchased a new position in shares of NBT Bancorp in the third quarter worth about $239,000. Finally, Victory Capital Management Inc. lifted its stake in shares of NBT Bancorp by 33.2% in the third quarter. Victory Capital Management Inc. now owns 6,650 shares of the bank’s stock worth $244,000 after buying an additional 1,657 shares in the last quarter. 49.75% of the stock is currently owned by hedge funds and other institutional investors.

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About NBT Bancorp

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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