NBT Bancorp (NASDAQ:NBTB) Price Target Lowered to $39.00 at Keefe, Bruyette & Woods

NBT Bancorp (NASDAQ:NBTB) had its price target lowered by analysts at Keefe, Bruyette & Woods from $41.00 to $39.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 9.12% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Raymond James increased their target price on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Janney Montgomery Scott upgraded NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Thursday, March 21st. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of NBT Bancorp in a research report on Tuesday. Finally, Piper Sandler decreased their price objective on shares of 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 analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.20.

NBT Bancorp Price Performance

Shares of NBTB opened at $35.74 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average is $34.79 and its two-hundred day moving average is $36.23. NBT Bancorp has a twelve month low of $27.52 and a twelve month high of $43.77. The firm has a market capitalization of $1.69 billion, a PE ratio of 13.80 and a beta of 0.51.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, April 22nd. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $192.33 million for the quarter, compared to the consensus estimate of $135.01 million. NBT Bancorp had a return on equity of 10.20% and a net margin of 16.71%. During the same period in the previous year, the business earned $0.88 earnings per share. Research analysts anticipate that NBT Bancorp will post 2.85 earnings per share for the current year.

Insider Buying and Selling at NBT Bancorp

In other news, Director Lowell A. Seifter sold 4,770 shares of NBT Bancorp stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $37.50, for a total transaction of $178,875.00. Following the completion of the sale, the director now directly owns 44,362 shares in the company, valued at $1,663,575. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in NBTB. Blue Trust Inc. grew its holdings in NBT Bancorp by 69.9% in the fourth quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after purchasing an additional 276 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of NBT Bancorp during the first quarter worth approximately $27,000. Longfellow Investment Management Co. LLC bought a new stake in shares of NBT Bancorp in the 3rd quarter worth about $27,000. Asset Dedication LLC acquired a new position in NBT Bancorp in the third quarter worth about $37,000. Finally, Bare Financial Services Inc bought a new stake in NBT Bancorp in the fourth quarter valued at 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.