NBT Bancorp Inc. (NASDAQ:NBTB) Receives $48.80 Consensus Price Target from Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $48.80.

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. DA Davidson assumed coverage on NBT Bancorp in a report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 target price on the stock. Finally, StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th.

NBT Bancorp Trading Up 1.2 %

NASDAQ NBTB opened at $47.62 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a twelve month low of $32.79 and a twelve month high of $52.44. The firm has a market capitalization of $2.25 billion, a PE ratio of 16.77 and a beta of 0.53. The stock’s 50 day moving average is $49.11 and its 200 day moving average is $46.40.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The company had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. During the same period in the previous year, the company posted $0.84 earnings per share. Research analysts forecast that NBT Bancorp will post 2.94 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, December 2nd. NBT Bancorp’s payout ratio is currently 47.89%.

Insider Activity

In related news, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the completion of the sale, the director now owns 38,853 shares in the company, valued at approximately $1,999,763.91. This represents a 50.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John H. Watt, Jr. sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total value of $909,000.00. Following the sale, the director now owns 143,101 shares of the company’s stock, valued at approximately $6,503,940.45. This trade represents a 12.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,694 shares of company stock valued at $4,048,185 over the last ninety days. 3.32% of the stock is currently owned by corporate insiders.

Institutional Trading of NBT Bancorp

A number of hedge funds have recently bought and sold shares of NBTB. Assenagon Asset Management S.A. purchased a new stake in NBT Bancorp during the fourth quarter valued at $12,007,000. Eagle Asset Management Inc. increased its position in NBT Bancorp by 76.3% during the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after acquiring an additional 163,952 shares during the last quarter. Deprince Race & Zollo Inc. increased its position in NBT Bancorp by 14.9% during the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock valued at $31,978,000 after acquiring an additional 107,404 shares during the last quarter. Ceredex Value Advisors LLC increased its position in NBT Bancorp by 40.9% during the third quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock valued at $13,680,000 after acquiring an additional 89,800 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in NBT Bancorp by 55.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock valued at $9,946,000 after acquiring an additional 80,232 shares during the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company Profile

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.