NBT Bancorp Inc. (NASDAQ:NBTB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $48.80.

A number of brokerages have commented on NBTB. Keefe, Bruyette & Woods lifted their target price 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. DA Davidson assumed coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target on the stock. Finally, StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday.

Insiders Place Their Bets

In other NBT Bancorp news, Director Timothy E. Delaney sold 40,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the sale, the director now directly owns 38,853 shares in the company, valued at $1,999,763.91. This represents a 50.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $51.31, for a total transaction of $25,655.00. Following the completion of the transaction, the executive vice president now directly owns 27,409 shares of the company’s stock, valued at approximately $1,406,355.79. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,694 shares of company stock worth $4,048,185 over the last ninety days. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of NBT Bancorp by 47.9% during the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after acquiring an additional 252 shares during the period. US Bancorp DE acquired a new position in NBT Bancorp during the 3rd quarter worth $57,000. Quest Partners LLC purchased a new stake in NBT Bancorp during the 3rd quarter worth about $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in NBT Bancorp in the 3rd quarter valued at about $103,000. Finally, Focused Wealth Management Inc purchased a new position in shares of NBT Bancorp in the 3rd quarter valued at about $217,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Trading Up 1.5 %

Shares of NBT Bancorp stock opened at $47.86 on Monday. NBT Bancorp has a 1-year low of $32.79 and a 1-year high of $52.44. 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 stock has a market cap of $2.26 billion, a P/E ratio of 16.85 and a beta of 0.53. The stock’s 50 day simple moving average is $49.05 and its 200-day simple moving average is $46.47.

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, beating the consensus estimate of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The company had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. During the same period in the prior year, the business earned $0.84 EPS. Analysts predict that NBT Bancorp will post 2.95 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Monday, December 2nd. NBT Bancorp’s payout ratio is 47.89%.

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.