NBT Bancorp (NASDAQ:NBTB) Sets New 1-Year High – Should You Buy?

NBT Bancorp Inc. (NASDAQ:NBTB)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $51.93 and last traded at $51.63, with a volume of 42074 shares changing hands. The stock had previously closed at $50.53.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NBTB. Stephens restated an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. StockNews.com raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Raymond James lowered shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, NBT Bancorp presently has a consensus rating of “Hold” and an average target price of $42.60.

NBT Bancorp Stock Performance

The firm has a market capitalization of $2.34 billion, a P/E ratio of 17.48 and a beta of 0.49. The company’s 50 day moving average is $45.24 and its 200-day moving average is $42.53. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (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 analyst estimates of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period in the prior year, the firm earned $0.84 earnings per share. As a group, equities analysts anticipate that NBT Bancorp Inc. will post 2.91 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio is presently 47.89%.

Insider Buying and Selling

In other NBT Bancorp news, EVP Martin Randolph Sparks sold 1,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 15,003 shares in the company, valued at approximately $725,695.11. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director V Daniel Robinson II sold 20,000 shares of the company’s 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 transaction, the director now owns 517,558 shares in the company, valued at approximately $22,824,307.80. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,556 shares of company stock valued at $7,545,690 over the last ninety days. 3.32% of the stock is owned by corporate insiders.

Institutional Trading of NBT Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Paloma Partners Management Co purchased a new stake in shares of NBT Bancorp in the third quarter valued at about $411,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of NBT Bancorp in the third quarter valued at about $103,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NBT Bancorp by 1.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,670 shares of the bank’s stock valued at $5,558,000 after purchasing an additional 1,681 shares during the last quarter. De Lisle Partners LLP purchased a new stake in shares of NBT Bancorp in the third quarter valued at about $223,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of NBT Bancorp by 68.7% in the third quarter. BNP Paribas Financial Markets now owns 15,616 shares of the bank’s stock valued at $691,000 after purchasing an additional 6,358 shares during the last quarter. Hedge funds and other 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.