NBT Bancorp (NASDAQ:NBTB) Now Covered by Analysts at DA Davidson

DA Davidson started coverage on shares of NBT Bancorp (NASDAQ:NBTB) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage issued a neutral rating and a $60.00 price objective on the bank’s stock.

A number of other analysts have also issued reports on NBTB. Keefe, Bruyette & Woods lifted their price target on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Stephens reaffirmed an “equal weight” rating and set a $49.00 price target on shares of NBT Bancorp in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.17.

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $51.66 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s fifty day moving average price is $47.67 and its 200 day moving average price is $44.51. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 18.19 and a beta of 0.52. NBT Bancorp has a 12-month low of $32.79 and a 12-month high of $52.31.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $202.00 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $0.84 earnings per share. On average, research analysts forecast that NBT Bancorp will post 2.94 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s dividend payout ratio is presently 47.89%.

Insider Buying and Selling at NBT Bancorp

In other news, Director Jack H. Webb sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $50.06, for a total transaction of $500,600.00. Following the completion of the transaction, the director now directly owns 45,018 shares in the company, valued at approximately $2,253,601.08. The trade was a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy E. Delaney sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $51.47, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 111,750 shares of company stock worth $5,390,950. 3.32% of the stock is owned by insiders.

Hedge Funds Weigh In On NBT Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after acquiring an additional 252 shares in the last quarter. US Bancorp DE bought a new stake in shares of NBT Bancorp in the 3rd quarter worth $57,000. Quest Partners LLC bought a new stake in shares of NBT Bancorp in the 3rd quarter worth $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NBT Bancorp in the third quarter valued at $103,000. Finally, AQR Capital Management LLC bought a new position in NBT Bancorp during the second quarter valued at about $214,000. 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.