NBT Bancorp Inc. (NASDAQ:NBTB) Receives $41.20 Consensus PT from Analysts

NBT Bancorp Inc. (NASDAQ:NBTB) has earned an average rating of “Hold” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $42.60.

NBTB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods dropped their target price on NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Raymond James cut NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Finally, Stephens cut NBT Bancorp from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $42.00 to $49.00 in a report on Thursday.

NBT Bancorp Trading Up 0.9 %

NBT Bancorp stock opened at $49.84 on Wednesday. The business has a 50 day moving average price of $39.08 and a two-hundred day moving average price of $36.91. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 19.24 and a beta of 0.52. NBT Bancorp has a 12 month low of $30.31 and a 12 month high of $50.83.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, July 22nd. The bank reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. The company had revenue of $194.00 million during the quarter, compared to analyst estimates of $139.02 million. During the same period in the previous year, the company posted $0.80 earnings per share. As a group, equities analysts forecast that NBT Bancorp will post 2.84 EPS for the current year.

NBT Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 2.73%. NBT Bancorp’s dividend payout ratio is 52.51%.

Insider Buying and Selling

In related news, EVP Sarah A. Halliday sold 1,325 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $35.66, for a total transaction of $47,249.50. Following the sale, the executive vice president now directly owns 32,402 shares in the company, valued at approximately $1,155,455.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NBT Bancorp

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in NBT Bancorp by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,515,875 shares of the bank’s stock valued at $174,798,000 after buying an additional 445,814 shares during the last quarter. Raymond James & Associates boosted its position in NBT Bancorp by 1.5% in the 4th quarter. Raymond James & Associates now owns 73,518 shares of the bank’s stock valued at $3,081,000 after buying an additional 1,058 shares during the last quarter. Blue Trust Inc. boosted its position in NBT Bancorp by 69.9% in the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after buying an additional 276 shares during the last quarter. BLB&B Advisors LLC bought a new position in NBT Bancorp in the 4th quarter valued at $589,000. Finally, Ascent Wealth Partners LLC bought a new position in NBT Bancorp in the 4th quarter valued at $204,000. 58.46% of the stock is currently owned by institutional investors.

NBT Bancorp Company Profile

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.