Analysts Set NBT Bancorp Inc. (NASDAQ:NBTB) Target Price at $41.20

NBT Bancorp Inc. (NASDAQ:NBTB) has earned an average rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $41.20.

NBTB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their price target on NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of NBT Bancorp in a report on Tuesday, April 23rd. Finally, Janney Montgomery Scott raised shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Thursday, March 21st.

Institutional Investors Weigh In On NBT Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of NBT Bancorp by 69.9% in the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after purchasing an additional 276 shares during the last quarter. Beacon Pointe Advisors LLC lifted its position in NBT Bancorp by 2.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 18,103 shares of the bank’s stock valued at $759,000 after buying an additional 394 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in NBT Bancorp by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 41,211 shares of the bank’s stock worth $1,512,000 after buying an additional 534 shares during the period. Inspire Investing LLC increased its position in shares of NBT Bancorp by 6.9% during the first quarter. Inspire Investing LLC now owns 9,759 shares of the bank’s stock valued at $358,000 after acquiring an additional 634 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of NBT Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 9,268 shares of the bank’s stock worth $340,000 after acquiring an additional 635 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Price Performance

NASDAQ:NBTB opened at $35.07 on Tuesday. The company has a 50 day moving average price of $36.09 and a 200-day moving average price of $36.86. NBT Bancorp has a 1-year low of $30.31 and a 1-year high of $43.77. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 13.54 and a beta of 0.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. The company had revenue of $192.33 million during the quarter, compared to analysts’ expectations of $135.01 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. Equities research analysts forecast that NBT Bancorp will post 2.84 EPS for the current year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Friday, May 31st. NBT Bancorp’s payout ratio is presently 49.42%.

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.