Brokerages Set NBT Bancorp Inc. (NASDAQ:NBTB) PT at $41.20

NBT Bancorp Inc. (NASDAQ:NBTB) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $41.20.

A number of equities analysts have weighed in on the stock. Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of NBT Bancorp in a research report on Tuesday, April 23rd. Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Thursday, March 21st. Finally, Keefe, Bruyette & Woods dropped their price target on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th.

Insider Transactions at NBT Bancorp

In related news, EVP Sarah A. Halliday sold 1,325 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $35.66, for a total transaction of $47,249.50. Following the sale, the executive vice president now owns 32,402 shares of the company’s stock, valued at $1,155,455.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

A number of hedge funds have recently bought and sold shares of the business. Blue Trust Inc. raised its stake in shares of NBT Bancorp by 69.9% in the fourth quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after acquiring an additional 276 shares during the period. Register Financial Advisors LLC purchased a new stake in shares of NBT Bancorp in the first quarter valued at $27,000. Bare Financial Services Inc purchased a new stake in shares of NBT Bancorp in the fourth quarter valued at $98,000. Naples Money Management LLC purchased a new stake in shares of NBT Bancorp in the fourth quarter valued at $156,000. Finally, SG Americas Securities LLC purchased a new stake in shares of NBT Bancorp in the first quarter valued at $178,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Trading Down 1.3 %

NBT Bancorp stock opened at $38.11 on Friday. NBT Bancorp has a 12-month low of $30.31 and a 12-month high of $43.77. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 14.71 and a beta of 0.52. The firm has a 50 day moving average of $36.69 and a 200 day moving average of $36.72. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $192.33 million during the quarter, compared to analyst estimates of $135.01 million. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, research analysts predict that NBT Bancorp will post 2.84 earnings per share for the current year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Friday, May 31st. NBT Bancorp’s dividend payout ratio (DPR) is presently 49.42%.

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.