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

NBT Bancorp Inc. (NASDAQ:NBTB) has earned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $42.60.

NBTB has been the subject of several research reports. Stephens reiterated an “equal weight” rating and set a $49.00 price objective on shares of NBT Bancorp in a research report 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.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $50.45 on Friday. 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 has a twelve month low of $32.79 and a twelve month high of $51.93. The business has a 50-day moving average price of $45.81 and a 200-day moving average price of $43.12. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 17.76 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $144.70 million. During the same period in the previous year, the business earned $0.84 earnings per share. As a group, equities research analysts predict that NBT Bancorp will post 2.91 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s dividend payout ratio is currently 47.89%.

Insiders Place Their Bets

In other NBT Bancorp news, Director Timothy E. Delaney sold 40,000 shares of the 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director V Daniel Robinson II sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the sale, the director now owns 517,558 shares of the company’s stock, valued at approximately $22,824,307.80. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,556 shares of company stock worth $8,039,690 in the last three months. Corporate insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock valued at $34,000 after acquiring an additional 252 shares in the last quarter. US Bancorp DE acquired a new stake in shares of NBT Bancorp in the 3rd quarter worth $57,000. Quest Partners LLC purchased a new position in NBT Bancorp during the 3rd quarter worth $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in NBT Bancorp during the 3rd quarter valued at about $103,000. Finally, AQR Capital Management LLC purchased a new stake in NBT Bancorp in the second quarter valued at about $214,000. 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.