NBT Bancorp (NASDAQ:NBTB) Price Target Lowered to $39.00 at Keefe, Bruyette & Woods

NBT Bancorp (NASDAQ:NBTB) had its target price reduced by equities research analysts at Keefe, Bruyette & Woods from $41.00 to $39.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 9.83% from the stock’s current price.

NBTB has been the subject of several other research reports. Piper Sandler decreased their price target on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Raymond James upped their price target on NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Stephens restated an “overweight” rating and set a $42.00 target price on shares of NBT Bancorp in a research note on Tuesday. Finally, Janney Montgomery Scott upgraded NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.20.

NBT Bancorp Stock Down 1.4 %

NBTB stock traded down $0.51 during mid-day trading on Wednesday, hitting $35.51. The stock had a trading volume of 41,864 shares, compared to its average volume of 206,852. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. NBT Bancorp has a 1-year low of $27.52 and a 1-year high of $43.77. The company has a fifty day moving average of $34.77 and a 200 day moving average of $36.23. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.62 and a beta of 0.51.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The company had revenue of $192.33 million for the quarter, compared to analyst estimates of $135.01 million. NBT Bancorp had a return on equity of 10.41% and a net margin of 16.71%. During the same period in the prior year, the firm posted $0.88 EPS. On average, equities analysts expect that NBT Bancorp will post 2.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Scott Allen Kingsley acquired 1,000 shares of NBT Bancorp stock in a transaction on Thursday, January 25th. The stock was bought at an average price of $36.80 per share, for a total transaction of $36,800.00. Following the transaction, the chief financial officer now owns 25,513 shares of the company’s stock, valued at $938,878.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Scott Allen Kingsley bought 1,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was acquired at an average cost of $36.80 per share, with a total value of $36,800.00. Following the acquisition, the chief financial officer now owns 25,513 shares in the company, valued at approximately $938,878.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lowell A. Seifter sold 4,770 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $37.50, for a total value of $178,875.00. Following the completion of the transaction, the director now directly owns 44,362 shares of the company’s stock, valued at $1,663,575. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,641 shares of company stock worth $319,806. 3.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NBT Bancorp

A number of hedge funds have recently modified their holdings of the stock. Longfellow Investment Management Co. LLC acquired a new stake in NBT Bancorp during the 3rd quarter valued at $27,000. Register Financial Advisors LLC acquired a new stake in shares of NBT Bancorp in the 1st quarter valued at $27,000. Blue Trust Inc. increased its stake in shares of NBT Bancorp by 69.9% in the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after buying an additional 276 shares during the period. Asset Dedication LLC acquired a new stake in shares of NBT Bancorp in the 3rd quarter valued at $37,000. Finally, Bare Financial Services Inc acquired a new stake in shares of NBT Bancorp in the 4th quarter valued at $98,000. 58.46% of the stock is owned by institutional investors and hedge funds.

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.