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

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been given a consensus rating of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $41.60.

NBTB has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their price objective on NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating on the stock in a research report on Thursday, January 25th. Janney Montgomery Scott upgraded NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Thursday, March 21st. Raymond James upped their price objective on NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Piper Sandler lowered their price objective on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Finally, Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a research report on Wednesday, February 14th.

Insider Activity at NBT Bancorp

In related news, Director Lowell A. Seifter sold 3,230 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $36.96, for a total value of $119,380.80. Following the completion of the transaction, the director now directly owns 49,132 shares of the company’s stock, valued at approximately $1,815,918.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Scott Allen Kingsley bought 1,000 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was acquired at an average cost of $36.80 per share, with a total value of $36,800.00. Following the purchase, the chief financial officer now directly owns 25,513 shares of the company’s stock, valued at $938,878.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lowell A. Seifter sold 3,230 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $36.96, for a total value of $119,380.80. Following the transaction, the director now owns 49,132 shares of the company’s stock, valued at $1,815,918.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,641 shares of company stock valued at $319,806. 3.53% of the stock is owned by insiders.

Hedge Funds Weigh In On NBT Bancorp

A number of hedge funds have recently modified their holdings of the business. Longfellow Investment Management Co. LLC purchased a new position in NBT Bancorp during the 3rd quarter valued at about $27,000. Lazard Asset Management LLC purchased a new position in NBT Bancorp during the 1st quarter valued at about $27,000. Blue Trust Inc. boosted its holdings in NBT Bancorp by 69.9% during the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after acquiring an additional 276 shares during the period. Asset Dedication LLC purchased a new position in NBT Bancorp during the 3rd quarter valued at about $37,000. Finally, Captrust Financial Advisors boosted its holdings in NBT Bancorp by 198.9% during the 1st quarter. Captrust Financial Advisors now owns 2,173 shares of the bank’s stock valued at $79,000 after acquiring an additional 1,446 shares during the period. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB opened at $36.74 on Thursday. The business’s 50 day moving average price is $35.26 and its 200 day moving average price is $35.79. The firm has a market cap of $1.73 billion, a P/E ratio of 13.81 and a beta of 0.50. NBT Bancorp has a 52 week low of $27.52 and a 52 week high of $43.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.18.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The firm had revenue of $137.66 million during the quarter, compared to analysts’ expectations of $138.87 million. NBT Bancorp had a net margin of 17.86% and a return on equity of 11.10%. On average, sell-side analysts expect that NBT Bancorp will post 2.89 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.32 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.48%. NBT Bancorp’s dividend payout ratio (DPR) is 48.12%.

About NBT Bancorp

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.