NBT Bancorp Inc. (NASDAQ:NBTB) Receives $49.50 Consensus Target Price from Analysts

NBT Bancorp Inc. (NASDAQ:NBTB) has received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $49.50.

Several equities research analysts recently weighed in on the stock. Hovde Group cut their target price on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a research note on Monday, April 27th. Weiss Ratings raised shares of NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Janney Montgomery Scott downgraded shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, February 23rd. Brean Capital downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Piper Sandler assumed coverage on shares of NBT Bancorp in a research note on Monday, March 16th. They set an “overweight” rating and a $50.00 target price on the stock.

Institutional Investors Weigh In On NBT Bancorp

A number of large investors have recently modified their holdings of NBTB. EverSource Wealth Advisors LLC increased its position in shares of NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after purchasing an additional 609 shares during the last quarter. Larson Financial Group LLC increased its position in shares of NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after purchasing an additional 799 shares during the last quarter. Bessemer Group Inc. increased its position in shares of NBT Bancorp by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock valued at $35,000 after purchasing an additional 324 shares during the last quarter. Western Wealth Management LLC purchased a new stake in shares of NBT Bancorp in the 1st quarter valued at approximately $37,000. Finally, Global Retirement Partners LLC increased its position in shares of NBT Bancorp by 62.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock valued at $43,000 after purchasing an additional 399 shares during the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Price Performance

Shares of NBTB opened at $45.51 on Thursday. NBT Bancorp has a fifty-two week low of $39.19 and a fifty-two week high of $46.92. The firm’s 50 day moving average price is $44.44 and its 200 day moving average price is $43.53. The company has a market cap of $2.37 billion, a P/E ratio of 12.97 and a beta of 0.47. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The business had revenue of $184.48 million for the quarter, compared to analysts’ expectations of $185.36 million. On average, research analysts forecast that NBT Bancorp will post 4.15 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.3%. NBT Bancorp’s dividend payout ratio is currently 42.17%.

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.