NBT Bancorp Inc. (NASDAQ:NBTB) Receives $42.60 Consensus Target Price from Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have earned a consensus recommendation of “Hold” from the five research firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $42.60.

Several equities research analysts have issued reports on NBTB shares. Stephens reissued an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Finally, StockNews.com raised NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th.

NBT Bancorp Trading Up 2.5 %

Shares of NASDAQ NBTB opened at $44.93 on Wednesday. NBT Bancorp has a fifty-two week low of $32.79 and a fifty-two week high of $50.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 15.82 and a beta of 0.49. The business’s 50 day moving average price is $45.07 and its 200-day moving average price is $41.97.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same quarter last year, the firm posted $0.84 earnings per share. On average, sell-side analysts expect that NBT Bancorp will post 2.89 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.03%. NBT Bancorp’s dividend payout ratio is presently 47.89%.

Insider Buying and Selling

In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total transaction of $882,000.00. Following the sale, the director now owns 517,558 shares of the company’s stock, valued at approximately $22,824,307.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Martin Randolph Sparks sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.37, for a total transaction of $48,370.00. Following the completion of the transaction, the executive vice president now owns 15,003 shares in the company, valued at $725,695.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director V Daniel Robinson II sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the sale, the director now owns 517,558 shares of the company’s stock, valued at approximately $22,824,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,556 shares of company stock valued at $5,436,790 over the last 90 days. Corporate insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System raised its stake in NBT Bancorp by 150.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank’s stock valued at $1,104,000 after buying an additional 19,661 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of NBT Bancorp by 978.7% in the 1st quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock valued at $3,318,000 after purchasing an additional 82,071 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in NBT Bancorp in the 2nd quarter worth approximately $1,974,000. Inspire Investing LLC grew its position in NBT Bancorp by 6.9% during the 1st quarter. Inspire Investing LLC now owns 9,759 shares of the bank’s stock worth $358,000 after purchasing an additional 634 shares during the last quarter. Finally, Ceredex Value Advisors LLC increased its stake in NBT Bancorp by 2.6% during the 2nd quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock valued at $8,473,000 after purchasing an additional 5,500 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

About NBT Bancorp

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.