NBT Bancorp (NASDAQ:NBTB) Stock Price Down 5.9%

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) were down 5.9% on Thursday . The company traded as low as $35.06 and last traded at $35.06. Approximately 2,330 shares traded hands during trading, a decline of 99% from the average daily volume of 199,403 shares. The stock had previously closed at $37.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NBTB shares. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of NBT Bancorp in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods lowered their target price on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Thursday, March 21st. Finally, Piper Sandler lowered their target price on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, NBT Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.20.

NBT Bancorp Stock Performance

The stock has a market cap of $1.76 billion, a PE ratio of 14.37 and a beta of 0.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50-day simple moving average of $35.16 and a 200-day simple moving average of $36.47.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. The firm had revenue of $192.33 million for the quarter, compared to analysts’ expectations of $135.01 million. During the same period in the previous year, the company posted $0.88 earnings per share. Equities analysts predict that NBT Bancorp Inc. will post 2.82 earnings per share for the current fiscal year.

Institutional Trading of NBT Bancorp

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of NBT Bancorp by 8.8% in the third quarter. Vanguard Group Inc. now owns 5,515,875 shares of the bank’s stock valued at $174,798,000 after purchasing an additional 445,814 shares during the period. Norges Bank acquired a new stake in NBT Bancorp during the 4th quarter valued at approximately $12,547,000. Hsbc Holdings PLC purchased a new stake in NBT Bancorp during the 4th quarter worth approximately $11,434,000. Fuller & Thaler Asset Management Inc. raised its position in shares of NBT Bancorp by 29.9% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 752,841 shares of the bank’s stock valued at $23,858,000 after purchasing an additional 173,218 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of NBT Bancorp by 978.7% during the 1st quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock valued at $3,318,000 after buying an additional 82,071 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

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.