NBT Bancorp Inc. (NASDAQ:NBTB) Receives Average Rating 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 covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $49.50.

A number of analysts have commented on the stock. Janney Montgomery Scott lowered shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, February 23rd. Brean Capital lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Weiss Ratings upgraded shares of NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. DA Davidson reiterated a “buy” rating and issued a $52.00 target price on shares of NBT Bancorp in a research note on Monday, April 27th. Finally, Hovde Group reduced their target price on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research note on Monday, April 27th.

NBT Bancorp Stock Performance

Shares of NBTB stock opened at $44.79 on Thursday. The firm has a market capitalization of $2.33 billion, a PE ratio of 12.76 and a beta of 0.49. The firm has a fifty day simple moving average of $44.61 and a two-hundred day simple moving average of $43.59. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. NBT Bancorp has a 12 month low of $39.19 and a 12 month high of $46.92.

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

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.37 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.48 annualized dividend and a dividend yield of 3.3%. NBT Bancorp’s dividend payout ratio is presently 42.17%.

Institutional Trading of NBT Bancorp

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after acquiring an additional 609 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after acquiring an additional 799 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of NBT Bancorp by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after acquiring an additional 324 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of NBT Bancorp in the 1st quarter worth $37,000. Finally, Global Retirement Partners LLC grew its stake in shares of NBT Bancorp by 62.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock worth $43,000 after acquiring an additional 399 shares in the last quarter. 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.