NBT Bancorp (NASDAQ:NBTB) Reaches New 12-Month High – Time to Buy?

NBT Bancorp Inc. (NASDAQ:NBTB)’s share price reached a new 52-week high on Thursday . The stock traded as high as $47.88 and last traded at $47.47, with a volume of 245197 shares traded. The stock had previously closed at $47.21.

Analyst Upgrades and Downgrades

NBTB has been the topic of several recent research reports. Hovde Group cut their price target on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a research note on Monday, April 27th. Brean Capital downgraded NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Janney Montgomery Scott downgraded NBT Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, February 23rd. DA Davidson restated a “buy” rating and issued a $52.00 price target on shares of NBT Bancorp in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, NBT Bancorp has a consensus rating of “Moderate Buy” and an average target price of $49.50.

NBT Bancorp Trading Up 0.6%

The firm has a 50 day simple moving average of $45.07 and a 200 day simple moving average of $43.83. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.47 billion, a PE ratio of 13.52 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. The business had revenue of $184.48 million for the quarter, compared to analysts’ expectations of $185.36 million. Equities analysts expect that NBT Bancorp Inc. will post 4.15 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, June 1st. NBT Bancorp’s dividend payout ratio (DPR) is currently 42.17%.

Insider Buying and Selling

In other NBT Bancorp news, EVP Ruth H. Mahoney sold 5,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $46.60, for a total transaction of $233,000.00. Following the sale, the executive vice president directly owned 16,428 shares in the company, valued at approximately $765,544.80. This trade represents a 23.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.99% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of NBT Bancorp by 1,645.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after buying an additional 609 shares during the period. Larson Financial Group LLC lifted its holdings in shares of NBT Bancorp by 13,316.7% during the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after buying an additional 799 shares during the period. Bessemer Group Inc. lifted its holdings in shares of NBT Bancorp by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock valued at $35,000 after buying an additional 324 shares during the period. Western Wealth Management LLC bought a new position in shares of NBT Bancorp during the 1st quarter valued at $37,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of NBT Bancorp by 62.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock valued at $43,000 after buying an additional 399 shares during the period. 58.46% of the stock is owned by institutional investors.

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.