NBT Bancorp (NASDAQ:NBTB) Stock Keeps “Market Perform” Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of NBT Bancorp (NASDAQ:NBTB) in a research report released on Friday morning,Benzinga reports. The firm currently has a $55.00 price objective on the bank’s stock, down from their prior price objective of $58.00.

NBTB has been the subject of a number of other research reports. Wall Street Zen raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Weiss Ratings restated a “buy (b)” rating on shares of NBT Bancorp in a research report on Monday, October 19th. DA Davidson set a $62.00 target price on shares of NBT Bancorp in a research report on Thursday. Finally, Stephens cut shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $52.00 to $55.00 in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.90.

NBT Bancorp Trading Down 1.5%

NBT Bancorp stock opened at $52.19 on Friday. The stock has a market cap of $2.71 billion, a PE ratio of 12.80 and a beta of 0.49. The stock has a 50-day moving average price of $51.35 and a 200 day moving average price of $47.68. NBT Bancorp has a 52 week low of $39.44 and a 52 week high of $54.50. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.08.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Tuesday, October 27th. The bank reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.02. The firm had revenue of $195.03 million during the quarter, compared to the consensus estimate of $193.83 million. NBT Bancorp had a net margin of 22.87% and a return on equity of 11.28%. Equities research analysts predict that NBT Bancorp will post 4.18 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.60 annualized dividend and a dividend yield of 3.1%. NBT Bancorp’s dividend payout ratio (DPR) is currently 38.37%.

Hedge Funds Weigh In On NBT Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in shares of NBT Bancorp in the 2nd quarter worth about $32,000. Bessemer Group Inc. grew its holdings in shares of NBT Bancorp by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after purchasing an additional 324 shares during the period. Western Wealth Management LLC purchased a new stake in shares of NBT Bancorp during the 1st quarter worth about $37,000. Nykredit A S acquired a new stake in NBT Bancorp during the 2nd quarter worth approximately $45,000. Finally, Global Retirement Partners LLC acquired a new stake in NBT Bancorp during the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Company Profile

NBT Bancorp Inc is the bank holding company for NBT Bank, a community banking institution headquartered in Norwich, New York. Through NBT Bank and its subsidiaries, the company provides banking, lending, investment, insurance and financial services to consumers, businesses, nonprofit organizations and municipalities.

NBT Bank offers checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, business lending, cash-management services and agricultural financing.