NBT Bancorp Inc. (NASDAQ:NBTB) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $48.80.

Several research firms have issued reports on NBTB. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. DA Davidson started coverage on NBT Bancorp in a report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 target price for the company. Finally, Keefe, Bruyette & Woods lifted their price target on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Insider Transactions at NBT Bancorp

In related news, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $51.31, for a total value 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 $1,406,355.79. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John H. Watt, Jr. sold 20,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 143,101 shares in the company, 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. Insiders sold a total of 81,694 shares of company stock worth $4,048,185 over the last three months. 3.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NBT Bancorp

A number of hedge funds have recently modified their holdings of NBTB. GAMMA Investing LLC grew its stake in 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 buying an additional 252 shares during the last quarter. US Bancorp DE acquired a new stake in NBT Bancorp during the 3rd quarter valued at $57,000. Quest Partners LLC bought a new position in NBT Bancorp in the 3rd quarter valued at $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in NBT Bancorp in the third quarter worth $103,000. Finally, AQR Capital Management LLC bought a new stake in shares of NBT Bancorp during the second quarter worth $214,000. 58.46% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Stock Performance

Shares of NBTB opened at $45.20 on Monday. NBT Bancorp has a 52-week low of $32.79 and a 52-week high of $52.44. The firm has a market capitalization of $2.13 billion, a PE ratio of 15.92 and a beta of 0.53. The firm has a 50-day moving average price of $49.10 and a 200 day moving average price of $46.28. 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 (NASDAQ:NBTB) last posted its quarterly earnings data 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 quarter in the previous year, the business earned $0.84 EPS. On average, sell-side analysts anticipate that NBT Bancorp will post 2.94 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is currently 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.