NBT Bancorp Inc. (NASDAQ:NBTB) Given Consensus Recommendation of “Hold” by Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has been assigned an average rating of “Hold” from the five analysts that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $50.6667.

Several equities research analysts have recently commented on the company. Janney Montgomery Scott downgraded NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NBT Bancorp in a research report on Monday, December 29th.

Insider Transactions at NBT Bancorp

In other news, EVP Amy Wiles sold 4,435 shares of NBT Bancorp stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $45.72, for a total transaction of $202,768.20. Following the completion of the transaction, the executive vice president directly owned 21,500 shares in the company, valued at approximately $982,980. The trade was a 17.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy E. Delaney bought 22,730 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were acquired at an average cost of $42.97 per share, for a total transaction of $976,708.10. Following the completion of the acquisition, the director directly owned 74,615 shares in the company, valued at $3,206,206.55. The trade was a 43.81% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 3.03% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

Several institutional investors and hedge funds have recently modified their holdings of NBTB. EverSource Wealth Advisors LLC lifted its stake in shares of NBT Bancorp by 1,645.9% during 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 during the last quarter. Hantz Financial Services Inc. acquired a new stake in NBT Bancorp during the second quarter worth approximately $33,000. Larson Financial Group LLC boosted its holdings in shares of NBT Bancorp by 13,316.7% during the third quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after acquiring an additional 799 shares during the period. Flagship Wealth Advisors LLC acquired a new position in shares of NBT Bancorp in the third quarter valued at approximately $42,000. Finally, Global Retirement Partners LLC increased its stake in shares of NBT Bancorp by 62.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock worth $43,000 after purchasing an additional 399 shares during the period. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Trading Down 4.3%

Shares of NASDAQ:NBTB opened at $43.66 on Tuesday. The company’s 50-day moving average price is $43.92 and its two-hundred day moving average price is $42.73. NBT Bancorp has a one year low of $37.31 and a one year high of $47.93. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $2.28 billion, a PE ratio of 13.23 and a beta of 0.51.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, January 26th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.06. The business had revenue of $185.14 million for the quarter, compared to analyst estimates of $183.63 million. NBT Bancorp had a return on equity of 10.86% and a net margin of 18.67%. On average, equities analysts forecast that NBT Bancorp will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, March 2nd. NBT Bancorp’s dividend payout ratio is presently 44.85%.

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.