NBT Bancorp’s (NBTB) Equal Weight Rating Reiterated at Stephens

Stephens reaffirmed their equal weight rating on shares of NBT Bancorp (NASDAQ:NBTB) in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a $49.00 price objective on the bank’s stock.

Separately, Raymond James downgraded shares of NBT Bancorp from an outperform rating to a market perform rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $42.60.

NBT Bancorp Trading Up 0.6 %

Shares of NBTB stock opened at $44.04 on Tuesday. The business’s fifty day moving average price is $45.60 and its 200 day moving average price is $39.27. The firm has a market capitalization of $2.08 billion, a PE ratio of 16.91 and a beta of 0.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.86. NBT Bancorp has a 1-year low of $30.31 and a 1-year high of $50.83.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, July 22nd. The bank reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. The company had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $139.02 million. During the same quarter in the previous year, the firm posted $0.80 earnings per share. As a group, sell-side analysts forecast that NBT Bancorp will post 2.86 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.34 dividend. The ex-dividend date is Friday, August 30th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.09%. NBT Bancorp’s dividend payout ratio is currently 52.51%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Register Financial Advisors LLC purchased a new position in NBT Bancorp during the first quarter worth $27,000. Union Savings Bank raised its stake in NBT Bancorp by 4,075.0% in the 1st quarter. Union Savings Bank now owns 4,843 shares of the bank’s stock valued at $178,000 after purchasing an additional 4,727 shares during the last quarter. SG Americas Securities LLC purchased a new position in NBT Bancorp in the 1st quarter valued at about $178,000. AQR Capital Management LLC acquired a new stake in shares of NBT Bancorp during the 2nd quarter worth about $214,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of NBT Bancorp during the first quarter worth about $332,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

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.