NBT Bancorp Inc. (NASDAQ:NBTB) Receives $50.33 Average Price Target from Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have earned an average rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $51.3333.

NBTB has been the subject of a number of research analyst reports. Piper Sandler initiated coverage on shares of NBT Bancorp in a report on Monday. They set an “overweight” rating and a $50.00 price objective for the company. Janney Montgomery Scott cut shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, February 23rd. DA Davidson initiated coverage on shares of NBT Bancorp in a research report on Wednesday, February 25th. They set a “buy” rating and a $54.00 target price for the company. Brean Capital lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Weiss Ratings raised shares of NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd.

Insider Buying and Selling at NBT Bancorp

In other news, Director Timothy E. Delaney purchased 22,730 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were purchased at an average price of $42.97 per share, with a total value of $976,708.10. Following the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amy Wiles sold 4,435 shares of NBT Bancorp stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $45.72, for a total value of $202,768.20. Following the completion of the sale, the executive vice president directly owned 21,500 shares of the company’s stock, valued at approximately $982,980. This trade represents a 17.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.03% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

Several large investors have recently modified their holdings of NBTB. Savant Capital LLC lifted its stake in shares of NBT Bancorp by 168.4% during 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 in the last quarter. SG Americas Securities LLC grew its stake in 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. Norges Bank bought a new stake in NBT Bancorp during the 2nd quarter valued at $1,646,000. Endeavour Capital Advisors Inc. bought a new stake in NBT Bancorp during the 2nd quarter valued at $3,371,000. Finally, JPMorgan Chase & Co. lifted its position in shares of NBT Bancorp by 26.7% during the third quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock worth $13,986,000 after acquiring an additional 70,594 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Down 0.0%

NBTB stock opened at $41.45 on Friday. The stock has a market cap of $2.16 billion, a P/E ratio of 12.56 and a beta of 0.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock’s fifty day simple moving average is $43.84 and its two-hundred day simple moving average is $42.66. NBT Bancorp has a 1-year low of $37.31 and a 1-year high of $46.92.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, January 26th. The bank reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $185.14 million for 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%. Analysts expect that NBT Bancorp will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, March 2nd. NBT Bancorp’s dividend payout ratio (DPR) is currently 44.85%.

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.