NBT Bancorp Inc. (NASDAQ:NBTB) Receives $42.60 Consensus Target Price from Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have received a consensus rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $42.60.

NBTB has been the topic of several recent research reports. Stephens restated an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, EVP Martin Randolph Sparks sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was 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 of the company’s stock, valued at $725,695.11. This trade represents a 6.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy E. Delaney sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the sale, the director now owns 38,853 shares of the company’s stock, valued at $1,999,763.91. This trade represents a 50.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,556 shares of company stock worth $8,540,290 in the last ninety days. 3.32% of the stock is owned by insiders.

Institutional Trading of NBT Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of NBTB. GAMMA Investing LLC grew its position in shares of NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after buying an additional 252 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of NBT Bancorp by 2.0% during the second quarter. Arizona State Retirement System now owns 13,199 shares of the bank’s stock valued at $509,000 after purchasing an additional 258 shares during the last quarter. Inspire Investing LLC raised its position in shares of NBT Bancorp by 3.7% during the 3rd quarter. Inspire Investing LLC now owns 9,378 shares of the bank’s stock worth $415,000 after purchasing an additional 331 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of NBT Bancorp by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the bank’s stock worth $915,000 after purchasing an additional 400 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 purchasing an additional 635 shares during the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $50.12 on Friday. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 17.65 and a beta of 0.49. NBT Bancorp has a 12 month low of $32.79 and a 12 month high of $52.31. 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’s 50-day moving average is $46.30 and its 200-day moving average is $43.61.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm 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 quarter last year, the firm posted $0.84 earnings per share. Equities analysts anticipate that NBT Bancorp will post 2.91 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.34 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.36 annualized dividend and a yield of 2.71%. NBT Bancorp’s dividend payout ratio is presently 47.89%.

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.