NBT Bancorp Inc. (NASDAQ:NBTB) Receives Consensus Rating of “Moderate Buy” from Analysts

NBT Bancorp Inc. (NASDAQ:NBTB) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $50.6667.

Several equities research analysts have recently commented on the company. DA Davidson downgraded NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Janney Montgomery Scott upgraded shares of NBT Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NBT Bancorp in a research report on Monday, December 29th.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB opened at $45.82 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50-day moving average of $43.79 and a 200-day moving average of $42.58. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 13.88 and a beta of 0.51. NBT Bancorp has a fifty-two week low of $37.31 and a fifty-two week high of $48.65.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, January 26th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $185.14 million during the quarter, compared to analysts’ expectations of $183.63 million. NBT Bancorp had a return on equity of 10.86% and a net margin of 18.67%. As a group, sell-side analysts predict that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 3.2%. NBT Bancorp’s dividend payout ratio (DPR) is presently 44.85%.

Insiders Place Their Bets

In other NBT Bancorp news, Director Timothy E. Delaney acquired 22,730 shares of the company’s stock in a transaction on Wednesday, January 28th. The shares were purchased at an average price of $42.97 per share, for a total transaction of $976,708.10. Following the completion of the purchase, the director directly owned 74,615 shares of the company’s stock, valued at approximately $3,206,206.55. This represents a 43.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors have recently made changes to their positions in the company. Members Advisory Group LLC bought a new stake in NBT Bancorp during the second quarter worth about $1,393,000. Savant Capital LLC increased its holdings in NBT Bancorp by 168.4% in the 3rd quarter. Savant Capital LLC now owns 71,060 shares of the bank’s stock valued at $2,967,000 after buying an additional 44,585 shares during the period. SG Americas Securities LLC raised its position in shares of NBT Bancorp by 110.6% in the 3rd quarter. SG Americas Securities LLC now owns 24,302 shares of the bank’s stock valued at $1,015,000 after buying an additional 12,761 shares in the last quarter. PL Capital Advisors LLC acquired a new position in shares of NBT Bancorp in the 2nd quarter valued at approximately $16,326,000. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of NBT Bancorp during the 2nd quarter worth approximately $292,000. Institutional investors own 58.46% of the company’s stock.

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.