NBT Bancorp Inc. (NASDAQ:NBTB) Receives $41.60 Consensus Target Price from Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $41.60.

A number of equities analysts have recently issued reports on NBTB shares. Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective for the company in a research report on Wednesday, February 14th. Raymond James upped their price objective on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Piper Sandler lowered their target price on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Keefe, Bruyette & Woods cut their price target on shares of 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. Finally, Janney Montgomery Scott upgraded NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a report on Thursday, March 21st.

NBT Bancorp Trading Up 4.0 %

NBTB opened at $34.61 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.86 and a quick ratio of 0.86. NBT Bancorp has a fifty-two week low of $27.52 and a fifty-two week high of $43.77. The company’s 50 day moving average price is $34.72 and its two-hundred day moving average price is $36.12. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 13.01 and a beta of 0.51.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The company had revenue of $137.66 million during the quarter, compared to analyst estimates of $138.87 million. NBT Bancorp had a net margin of 17.86% and a return on equity of 11.10%. As a group, research analysts predict that NBT Bancorp will post 2.89 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.70%. NBT Bancorp’s dividend payout ratio (DPR) is 48.12%.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director Lowell A. Seifter sold 4,770 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $37.50, for a total value of $178,875.00. Following the transaction, the director now owns 44,362 shares in the company, valued at $1,663,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NBT Bancorp news, Director Lowell A. Seifter sold 4,770 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $37.50, for a total transaction of $178,875.00. Following the transaction, the director now directly owns 44,362 shares of the company’s stock, valued at approximately $1,663,575. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott Allen Kingsley acquired 1,000 shares of the stock in a transaction on Thursday, January 25th. The stock was bought at an average price of $36.80 per share, with a total value of $36,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 25,513 shares of the company’s stock, valued at $938,878.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 8,641 shares of company stock valued at $319,806. Insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in NBTB. Bank of New York Mellon Corp grew its holdings in shares of NBT Bancorp by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 513,545 shares of the bank’s stock valued at $16,274,000 after buying an additional 31,876 shares during the last quarter. Northern Trust Corp lifted its stake in shares of NBT Bancorp by 5.7% during the 3rd quarter. Northern Trust Corp now owns 741,141 shares of the bank’s stock valued at $23,487,000 after buying an additional 39,912 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of NBT Bancorp by 11.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 504,681 shares of the bank’s stock worth $15,993,000 after purchasing an additional 51,671 shares in the last quarter. Graham Capital Management L.P. purchased a new position in shares of NBT Bancorp in the third quarter worth $676,000. Finally, HighTower Advisors LLC bought a new position in shares of NBT Bancorp during the 3rd quarter valued at about $855,000. Institutional investors own 58.46% of the company’s stock.

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.