NBT Bancorp Inc. (NASDAQ:NBTB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $51.25.

A number of research firms have commented on NBTB. DA Davidson lowered NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Janney Montgomery Scott raised NBT Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of NBT Bancorp in a research report on Monday. Finally, Piper Sandler set a $47.00 price target on shares of NBT Bancorp and gave the stock an “overweight” rating in a report on Tuesday, October 14th.

NBT Bancorp Trading Up 0.2%

NBTB opened at $41.59 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88. NBT Bancorp has a fifty-two week low of $37.31 and a fifty-two week high of $49.18. The company’s 50 day moving average price is $41.87 and its two-hundred day moving average price is $42.15. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 13.86 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, October 27th. The bank reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. The company had revenue of $186.07 million for the quarter, compared to analyst estimates of $183.87 million. NBT Bancorp had a net margin of 17.24% and a return on equity of 10.35%. As a group, research analysts predict that NBT Bancorp will post 3.69 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, December 1st. NBT Bancorp’s dividend payout ratio (DPR) is currently 49.33%.

Insider Transactions at NBT Bancorp

In other news, Director Timothy E. Delaney purchased 10,000 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were acquired at an average price of $40.98 per share, with a total value of $409,800.00. Following the completion of the transaction, the director owned 51,885 shares of the company’s stock, valued at $2,126,247.30. The trade was a 23.87% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in NBTB. EverSource Wealth Advisors LLC grew its stake in NBT Bancorp by 1,645.9% during the second quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after purchasing an additional 609 shares during the period. Hantz Financial Services Inc. bought a new position in shares of NBT Bancorp during the 2nd quarter worth approximately $33,000. Larson Financial Group LLC grew its position 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 worth $34,000 after buying an additional 799 shares during the period. Flagship Wealth Advisors LLC bought a new stake in shares of NBT Bancorp in the 3rd quarter valued at $42,000. Finally, Allworth Financial LP acquired a new position in shares of NBT Bancorp during the 3rd quarter valued at $46,000. Institutional investors own 58.46% of the company’s stock.

About NBT Bancorp

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.