NBT Bancorp Inc. (NASDAQ:NBTB) Receives $48.17 Average PT from Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $48.17.

NBTB has been the subject of a number of research analyst reports. Stephens reissued an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. Keefe, Bruyette & Woods boosted their price objective on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised NBT Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Finally, DA Davidson started coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target for the company.

NBT Bancorp Stock Up 0.2 %

Shares of NBTB stock opened at $48.98 on Thursday. The stock’s 50 day simple moving average is $48.35 and its 200 day simple moving average is $45.14. NBT Bancorp has a twelve month low of $32.79 and a twelve month high of $52.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 17.25 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.80 EPS for the quarter, beating 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 analyst estimates of $144.70 million. During the same quarter last year, the firm posted $0.84 earnings per share. As a group, research analysts predict that NBT Bancorp will post 2.94 EPS for the current year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.78%. NBT Bancorp’s dividend payout ratio is currently 47.89%.

Insider Activity

In other news, Director Timothy E. Delaney sold 40,000 shares of NBT Bancorp 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 approximately $1,999,763.91. The trade was a 50.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John H. Watt, Jr. sold 20,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was 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 of the company’s stock, valued at $6,503,940.45. This trade represents a 12.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,694 shares of company stock worth $4,048,185. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Eagle Asset Management Inc. raised its stake in NBT Bancorp by 76.3% during the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock worth $16,759,000 after acquiring an additional 163,952 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of NBT Bancorp in the 3rd quarter worth about $439,000. Edgestream Partners L.P. acquired a new stake in shares of NBT Bancorp during the 2nd quarter worth about $1,974,000. Ceredex Value Advisors LLC lifted its holdings in NBT Bancorp by 2.6% during the 2nd quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock valued at $8,473,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Raymond James & Associates boosted its position in NBT Bancorp by 3.9% in the third quarter. Raymond James & Associates now owns 95,062 shares of the bank’s stock valued at $4,205,000 after buying an additional 3,540 shares in 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.