NBT Bancorp Inc. (NASDAQ:NBTB) Given Consensus Rating of “Hold” by Brokerages

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

A number of research analysts have issued reports on the company. Stephens reissued an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research note on Tuesday, September 10th. StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Raymond James downgraded shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th.

NBT Bancorp Stock Up 0.2 %

Shares of NASDAQ NBTB opened at $44.56 on Wednesday. NBT Bancorp has a 52-week low of $32.79 and a 52-week high of $50.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market cap of $2.10 billion, a P/E ratio of 15.69 and a beta of 0.49. The firm has a 50 day moving average price of $45.22 and a 200 day moving average price of $41.82.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The company had revenue of $202.00 million for the quarter, compared to analysts’ expectations of $144.70 million. During the same period last year, the firm posted $0.84 earnings per share. Analysts expect that NBT Bancorp will post 2.89 EPS for the current year.

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio is presently 47.89%.

Insiders Place Their Bets

In other news, Director John H. Watt, Jr. sold 20,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total transaction of $909,000.00. Following the completion of the transaction, the director now directly owns 143,101 shares in the company, valued at $6,503,940.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John H. Watt, Jr. sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the sale, the director now owns 143,101 shares in the company, valued at $6,503,940.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Amy Wiles sold 556 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $25,020.00. Following the completion of the sale, the executive vice president now directly owns 28,909 shares of the company’s stock, valued at approximately $1,300,905. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,556 shares of company stock valued at $5,436,790 in the last quarter. 3.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ascent Wealth Partners LLC bought a new stake in NBT Bancorp in the third quarter valued at approximately $218,000. Focused Wealth Management Inc acquired a new stake in NBT Bancorp during the 3rd quarter valued at $217,000. Ceredex Value Advisors LLC lifted its holdings in NBT Bancorp by 40.9% during the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock valued at $13,680,000 after purchasing an additional 89,800 shares during the last quarter. US Bancorp DE bought a new position in NBT Bancorp during the third quarter worth $57,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of NBT Bancorp by 3.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 144,642 shares of the bank’s stock valued at $6,398,000 after purchasing an additional 5,235 shares during the last quarter. Institutional investors own 58.46% of the company’s stock.

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.