Analysts Set NBT Bancorp Inc. (NASDAQ:NBTB) PT at $41.60

NBT Bancorp Inc. (NASDAQ:NBTB) has been given a consensus rating of “Moderate Buy” by the five analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $41.60.

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their price objective on NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Piper Sandler lowered their price objective on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. Raymond James lifted their price objective on NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Janney Montgomery Scott raised NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, March 21st. Finally, Stephens raised NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective for the company in a research report on Wednesday, February 14th.

Insiders Place Their Bets

In other news, CFO Scott Allen Kingsley acquired 1,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was purchased at an average cost of $36.80 per share, with a total value of $36,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 25,513 shares in the company, valued at $938,878.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Lowell A. Seifter sold 4,770 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $37.50, for a total transaction of $178,875.00. Following the completion of the transaction, the director now directly owns 44,362 shares of the company’s stock, valued at $1,663,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott Allen Kingsley bought 1,000 shares of the stock in a transaction dated Thursday, January 25th. The shares were bought at an average cost of $36.80 per share, with a total value of $36,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 25,513 shares of the company’s stock, valued at approximately $938,878.40. The disclosure for this purchase can be found here. Insiders have sold a total of 8,641 shares of company stock worth $319,806 over the last quarter. 3.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NBT Bancorp

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in shares of NBT Bancorp by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 513,545 shares of the bank’s stock valued at $16,274,000 after purchasing an additional 31,876 shares during the last quarter. Northern Trust Corp grew its holdings in shares of NBT Bancorp by 5.7% during the third quarter. Northern Trust Corp now owns 741,141 shares of the bank’s stock valued at $23,487,000 after purchasing an additional 39,912 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of NBT Bancorp by 11.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 504,681 shares of the bank’s stock valued at $15,993,000 after purchasing an additional 51,671 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of NBT Bancorp during the third quarter valued at approximately $676,000. Finally, HighTower Advisors LLC bought a new position in NBT Bancorp in the 3rd quarter worth approximately $855,000. 58.46% of the stock is owned by institutional investors.

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $33.02 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a fifty day moving average of $34.74 and a two-hundred day moving average of $36.16. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 12.41 and a beta of 0.51. NBT Bancorp has a fifty-two week low of $27.52 and a fifty-two week high of $43.77.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The business had revenue of $137.66 million during the quarter, compared to analysts’ expectations of $138.87 million. NBT Bancorp had a net margin of 17.86% and a return on equity of 11.10%. On average, analysts anticipate that NBT Bancorp will post 2.89 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date was Thursday, February 29th. NBT Bancorp’s dividend payout ratio is presently 48.12%.

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.