NBT Bancorp (NASDAQ:NBTB) Given Overweight Rating at Stephens

Stephens reaffirmed their overweight rating on shares of NBT Bancorp (NASDAQ:NBTB) in a research report report published on Tuesday morning, Benzinga reports. Stephens currently has a $42.00 price target on the bank’s stock.

A number of other research analysts have also recently commented on the company. Janney Montgomery Scott upgraded NBT Bancorp from a neutral rating to a buy rating and set a $39.00 price target on the stock in a research report on Thursday, March 21st. Raymond James lifted their target price on NBT Bancorp from $40.00 to $45.00 and gave the company an outperform rating in a research report on Friday, January 5th. Keefe, Bruyette & Woods decreased their target price 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. Finally, Piper Sandler decreased their target price 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $41.20.

NBT Bancorp Stock Up 0.6 %

Shares of NASDAQ NBTB opened at $35.97 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86. NBT Bancorp has a 52 week low of $27.52 and a 52 week high of $43.77. The stock has a market capitalization of $1.70 billion, a P/E ratio of 13.89 and a beta of 0.51. The stock’s fifty day moving average is $34.81 and its 200 day moving average is $36.25.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. NBT Bancorp had a return on equity of 10.20% and a net margin of 16.71%. The company had revenue of $192.33 million for the quarter, compared to analysts’ expectations of $135.01 million. During the same quarter last year, the business earned $0.88 earnings per share. Sell-side analysts forecast that NBT Bancorp will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at NBT Bancorp

In other news, Director Lowell A. Seifter sold 4,770 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $37.50, for a total transaction of $178,875.00. Following the sale, the director now directly owns 44,362 shares in the company, valued at $1,663,575. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in NBTB. Longfellow Investment Management Co. LLC bought a new stake in shares of NBT Bancorp during the third quarter worth about $27,000. Register Financial Advisors LLC acquired a new position in shares of NBT Bancorp in the first quarter worth approximately $27,000. Blue Trust Inc. lifted its stake in shares of NBT Bancorp by 69.9% in the fourth quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock worth $28,000 after acquiring an additional 276 shares during the period. Asset Dedication LLC acquired a new position in shares of NBT Bancorp in the third quarter worth approximately $37,000. Finally, Bare Financial Services Inc acquired a new position in shares of NBT Bancorp in the fourth quarter worth approximately $98,000. 58.46% of the stock is currently owned by institutional investors.

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.