NBT Bancorp Inc. (NASDAQ:NBTB) Given Average Rating of “Moderate Buy” by Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $52.00.

Several equities research analysts recently weighed in on NBTB shares. Brean Capital lowered NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Piper Sandler started coverage on NBT Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $50.00 target price for the company. Weiss Ratings upgraded NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. DA Davidson started coverage on NBT Bancorp in a report on Wednesday, February 25th. They issued a “buy” rating and a $54.00 target price for the company. Finally, Janney Montgomery Scott lowered NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd.

Insider Activity at NBT Bancorp

In related news, Director Timothy E. Delaney bought 22,730 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, January 28th. The stock was purchased at an average cost of $42.97 per share, for a total transaction of $976,708.10. Following the acquisition, the director owned 74,615 shares in the company, valued at $3,206,206.55. This trade represents a 43.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Amy Wiles sold 4,435 shares of the business’s stock in a transaction that occurred on 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 owned 21,500 shares of the company’s stock, valued at approximately $982,980. This trade represents a 17.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NBTB. Millennium Management LLC lifted its holdings in shares of NBT Bancorp by 564.1% during the third quarter. Millennium Management LLC now owns 248,050 shares of the bank’s stock worth $10,359,000 after buying an additional 210,699 shares during the last quarter. State Street Corp lifted its holdings in shares of NBT Bancorp by 7.8% during the second quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock worth $105,177,000 after buying an additional 182,793 shares during the last quarter. Nuveen LLC lifted its holdings in shares of NBT Bancorp by 171.0% during the fourth quarter. Nuveen LLC now owns 286,107 shares of the bank’s stock worth $11,879,000 after buying an additional 180,528 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of NBT Bancorp by 63.2% during the second quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock worth $18,741,000 after buying an additional 174,639 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in shares of NBT Bancorp during the third quarter worth approximately $4,886,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Stock Up 0.7%

Shares of NBT Bancorp stock opened at $43.99 on Wednesday. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 13.33 and a beta of 0.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. NBT Bancorp has a 52-week low of $37.61 and a 52-week high of $46.92. The stock has a 50-day simple moving average of $43.47 and a 200-day simple moving average of $42.51.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, January 26th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The business had revenue of $185.14 million during the quarter, compared to analyst estimates of $183.63 million. NBT Bancorp had a return on equity of 10.86% and a net margin of 18.67%. On average, equities research analysts expect that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, March 2nd. NBT Bancorp’s payout ratio is 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.