NBT Bancorp Inc. (NASDAQ:NBTB) Receives $50.67 Average Target Price from Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been given an average rating of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $50.6667.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of NBT Bancorp in a report on Monday, December 29th.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 4,435 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $45.72, for a total value of $202,768.20. Following the completion of the sale, the executive vice president directly owned 21,500 shares in the company, valued at approximately $982,980. This trade represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy E. Delaney acquired 22,730 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were bought at an average price of $42.97 per share, for a total transaction of $976,708.10. Following the acquisition, the director owned 74,615 shares of the company’s stock, valued at approximately $3,206,206.55. This represents a 43.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NBTB. PL Capital Advisors LLC purchased a new position in NBT Bancorp in the 2nd quarter valued at approximately $16,326,000. Millennium Management LLC boosted its holdings in NBT Bancorp by 564.1% in the third quarter. Millennium Management LLC now owns 248,050 shares of the bank’s stock valued at $10,359,000 after purchasing an additional 210,699 shares during the period. State Street Corp increased its holdings in NBT Bancorp by 7.8% during the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock worth $105,177,000 after purchasing an additional 182,793 shares during the period. Nuveen LLC increased its holdings in NBT Bancorp by 171.0% during the 4th quarter. Nuveen LLC now owns 286,107 shares of the bank’s stock worth $11,879,000 after purchasing an additional 180,528 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of NBT Bancorp by 63.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock valued at $18,741,000 after buying an additional 174,639 shares during the period. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Trading Up 0.4%

Shares of NBTB opened at $45.16 on Tuesday. NBT Bancorp has a twelve month low of $37.31 and a twelve month high of $47.93. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The company’s fifty day simple moving average is $43.91 and its 200-day simple moving average is $42.65. The company has a market cap of $2.36 billion, a P/E ratio of 13.68 and a beta of 0.51.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, January 26th. The bank reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. NBT Bancorp had a net margin of 18.67% and a return on equity of 10.86%. The company had revenue of $185.14 million for the quarter, compared to analyst estimates of $183.63 million. As a group, analysts expect that NBT Bancorp will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.37 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.48 annualized dividend and a dividend yield of 3.3%. NBT Bancorp’s dividend payout ratio (DPR) is currently 44.85%.

NBT Bancorp Company Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.