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

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

A number of other research firms have also weighed in on NBTB. Piper Sandler decreased their target price on shares of NBT Bancorp from $42.00 to $41.00 and set an overweight rating on the stock in a report on Thursday, January 25th. Keefe, Bruyette & Woods decreased their target price on shares of NBT Bancorp from $45.00 to $41.00 and set a market perform rating on the stock in a report on Thursday, January 25th. Janney Montgomery Scott raised shares of NBT Bancorp from a neutral rating to a buy rating and set a $39.00 target price on the stock in a report on Thursday, March 21st. Finally, Raymond James upped their target price on shares of NBT Bancorp from $40.00 to $45.00 and gave the stock an outperform rating in a report on Friday, January 5th. One investment 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, NBT Bancorp presently has an average rating of Moderate Buy and an average target price of $41.60.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $36.02 on Tuesday. The company’s 50 day moving average is $34.77 and its 200-day moving average is $36.23. NBT Bancorp has a 12-month low of $27.52 and a 12-month high of $43.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.70 billion, a P/E ratio of 13.54 and a beta of 0.51.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, April 22nd. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $192.33 million for the quarter, compared to analyst estimates of $135.01 million. NBT Bancorp had a net margin of 17.86% and a return on equity of 11.10%. During the same quarter in the prior year, the firm posted $0.88 EPS. Sell-side analysts predict that NBT Bancorp will post 2.89 earnings per share for the current year.

Insiders Place Their Bets

In other NBT Bancorp news, Director Lowell A. Seifter sold 4,770 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $37.50, for a total value of $178,875.00. Following the completion of the transaction, the director now owns 44,362 shares of the company’s stock, valued at approximately $1,663,575. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Lowell A. Seifter sold 4,770 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $37.50, for a total value of $178,875.00. Following the completion of the sale, the director now owns 44,362 shares of the company’s stock, valued at approximately $1,663,575. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lowell A. Seifter sold 3,230 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $36.96, for a total transaction of $119,380.80. Following the completion of the sale, the director now directly owns 49,132 shares of the company’s stock, valued at approximately $1,815,918.72. The disclosure for this sale can be found here. Insiders sold a total of 8,641 shares of company stock valued at $319,806 in the last quarter. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors have recently made changes to their positions in NBTB. Longfellow Investment Management Co. LLC purchased a new stake in shares of NBT Bancorp in the 3rd quarter valued at $27,000. Register Financial Advisors LLC bought a new position in NBT Bancorp in the 1st quarter worth $27,000. Blue Trust Inc. increased its stake in shares of NBT Bancorp by 69.9% in the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock worth $28,000 after acquiring an additional 276 shares in the last quarter. Asset Dedication LLC bought a new position in shares of NBT Bancorp in the 3rd quarter worth about $37,000. Finally, Bare Financial Services Inc bought a new position in shares of NBT Bancorp in the 4th quarter worth about $98,000. Hedge funds and other 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.