NBT Bancorp Inc. (NASDAQ:NBTB) Receives Average Recommendation of “Moderate Buy” from Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com 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 twelve-month target price among analysts that have issued a report on the stock in the last year is $51.25.

Several research analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of NBT Bancorp in a research note on Monday, December 29th. Piper Sandler set a $47.00 price objective on shares of NBT Bancorp and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Janney Montgomery Scott upgraded shares of NBT Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, DA Davidson cut shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th.

NBT Bancorp Price Performance

NBTB stock opened at $45.47 on Friday. NBT Bancorp has a 1 year low of $37.31 and a 1 year high of $49.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50 day moving average price is $42.50 and its 200 day moving average price is $42.32. The firm has a market cap of $2.38 billion, a P/E ratio of 15.16 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 27th. The bank reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.08. NBT Bancorp had a return on equity of 10.35% and a net margin of 17.24%.The company had revenue of $186.07 million during the quarter, compared to the consensus estimate of $183.87 million. On average, sell-side analysts expect that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.3%. NBT Bancorp’s payout ratio is currently 49.33%.

Insiders Place Their Bets

In other NBT Bancorp news, Director Timothy E. Delaney purchased 10,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were purchased at an average cost of $40.98 per share, with a total value of $409,800.00. Following the purchase, the director owned 51,885 shares in the company, valued at approximately $2,126,247.30. This represents a 23.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.03% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

Several hedge funds have recently modified their holdings of the stock. Daytona Street Capital LLC purchased a new position in NBT Bancorp during the fourth quarter worth approximately $198,000. Cornell Pochily Investment Advisors Inc. increased its holdings in shares of NBT Bancorp by 11.2% during the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 7,530 shares of the bank’s stock worth $313,000 after buying an additional 761 shares during the last quarter. Financial Planning Hawaii Inc. purchased a new position in shares of NBT Bancorp in the 4th quarter worth $641,000. SG Americas Securities LLC boosted its holdings in NBT Bancorp by 195.7% in the fourth quarter. SG Americas Securities LLC now owns 71,852 shares of the bank’s stock valued at $2,983,000 after acquiring an additional 47,550 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in NBT Bancorp by 13.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 107,986 shares of the bank’s stock valued at $4,628,000 after acquiring an additional 12,925 shares during the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

About NBT Bancorp

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.