NBT Bancorp Inc. (NASDAQ:NBTB) Receives $54.10 Average PT from Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have received an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $54.10.

A number of equities analysts have recently weighed in on the stock. Stephens cut shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $52.00 to $55.00 in a research note on Thursday, July 30th. Hovde Group reduced their price objective 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. DA Davidson boosted their price objective on shares of NBT Bancorp from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Wall Street Zen lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $54.00 target price (up from $52.00) on shares of NBT Bancorp in a report on Monday, August 3rd.

NBT Bancorp Trading Down 0.0%

Shares of NBTB stock opened at $53.56 on Tuesday. The business’s fifty day moving average price is $50.55 and its 200 day moving average price is $46.44. NBT Bancorp has a 1-year low of $39.19 and a 1-year high of $54.50. The firm has a market capitalization of $2.78 billion, a PE ratio of 13.10 and a beta of 0.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, July 27th. The bank reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). The business had revenue of $186.69 million during the quarter, compared to analyst estimates of $188.81 million. NBT Bancorp had a net margin of 22.58% and a return on equity of 11.27%. As a group, sell-side analysts forecast that NBT Bancorp will post 4.15 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.40 per share. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. NBT Bancorp’s dividend payout ratio is presently 36.19%.

Insider Buying and Selling

In related news, EVP Ruth H. Mahoney sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $54.30, for a total value of $244,350.00. Following the completion of the transaction, the executive vice president directly owned 11,928 shares of the company’s stock, valued at $647,690.40. This trade represents a 27.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Heidi M. Hoeller sold 2,100 shares of NBT Bancorp stock in a transaction on Friday, June 12th. The stock was sold at an average price of $48.03, for a total value of $100,863.00. Following the transaction, the director directly owned 11,560 shares of the company’s stock, valued at approximately $555,226.80. This represents a 15.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,600 shares of company stock worth $1,064,573 in the last quarter. Company insiders own 2.99% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position 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 buying an additional 609 shares in the last quarter. Larson Financial Group LLC grew its stake in NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after acquiring an additional 799 shares during the last quarter. Bessemer Group Inc. grew its stake in NBT Bancorp by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock valued at $35,000 after acquiring an additional 324 shares during the last quarter. Western Wealth Management LLC purchased a new position in NBT Bancorp during the 1st quarter valued at about $37,000. Finally, Global Retirement Partners LLC increased its holdings in 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 acquiring an additional 399 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

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.