NBT Bancorp (NASDAQ:NBTB) Stock Rating Reaffirmed as “Market Perform” by Keefe, Bruyette & Woods

NBT Bancorp (NASDAQ:NBTB)‘s stock had its “market perform” rating reiterated by equities researchers at Keefe, Bruyette & Woods in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $55.00 price target on the bank’s stock, down from their prior price target of $58.00. Keefe, Bruyette & Woods‘s price objective indicates a potential upside of 4.47% from the stock’s current price.

Several other brokerages also recently weighed in on NBTB. DA Davidson set a $62.00 price target on shares of NBT Bancorp in a report on Thursday. Stephens downgraded shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $52.00 to $55.00 in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NBT Bancorp in a research report on Monday, October 19th. Finally, Wall Street Zen raised NBT Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $54.90.

NBT Bancorp Stock Down 0.6%

Shares of NBTB traded down $0.32 during midday trading on Friday, hitting $52.65. 16,593 shares of the company’s stock traded hands, compared to its average volume of 296,918. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 12.63 and a beta of 0.49. NBT Bancorp has a 1 year low of $39.44 and a 1 year high of $54.50. The firm’s fifty day moving average is $51.34 and its 200-day moving average is $47.63.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Tuesday, October 27th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.02. NBT Bancorp had a net margin of 22.87% and a return on equity of 11.28%. The firm had revenue of $195.03 million for the quarter, compared to the consensus estimate of $193.83 million. As a group, sell-side analysts anticipate that NBT Bancorp will post 4.17 earnings per share for the current year.

Institutional Investors Weigh In On NBT Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in NBT Bancorp during the second quarter valued at $369,183,000. Dimensional Fund Advisors LP increased its stake in shares of NBT Bancorp by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,330,975 shares of the bank’s stock worth $99,252,000 after purchasing an additional 30,141 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of NBT Bancorp during the 2nd quarter worth about $27,632,000. Bank of New York Mellon Corp acquired a new position in shares of NBT Bancorp during the 2nd quarter worth about $22,685,000. Finally, Ceredex Value Advisors LLC purchased a new position in NBT Bancorp in the 2nd quarter valued at about $13,673,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company Profile

NBT Bancorp Inc is the bank holding company for NBT Bank, a community banking institution headquartered in Norwich, New York. Through NBT Bank and its subsidiaries, the company provides banking, lending, investment, insurance and financial services to consumers, businesses, nonprofit organizations and municipalities.

NBT Bank offers checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, business lending, cash-management services and agricultural financing.