Brokerages Set NBT Bancorp Inc. (NASDAQ:NBTB) Price Target at $54.50

NBT Bancorp Inc. (NASDAQ:NBTB) has received a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $54.50.

NBTB has been the topic of a number of analyst reports. Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. DA Davidson started coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target on the stock. StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Finally, Hovde Group started coverage on NBT Bancorp in a report on Friday, March 21st. They set a “market perform” rating and a $50.00 target price on the stock.

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $42.90 on Friday. The company has a market cap of $2.03 billion, a PE ratio of 14.49 and a beta of 0.48. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 1 year low of $32.93 and a 1 year high of $52.44. The company’s 50-day moving average is $46.09 and its two-hundred day moving average is $46.79.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same period in the prior year, the company posted $0.72 earnings per share. Equities analysts anticipate that NBT Bancorp will post 3.69 earnings per share for the current year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Monday, March 3rd. NBT Bancorp’s dividend payout ratio is 45.95%.

Insider Activity at NBT Bancorp

In other news, Director Heidi M. Hoeller acquired 678 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the completion of the acquisition, the director now owns 6,437 shares in the company, valued at $311,872.65. This represents a 11.77 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the sale, the executive vice president now directly owns 25,564 shares in the company, valued at approximately $1,238,575.80. This represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. 3.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NBT Bancorp

Hedge funds have recently made changes to their positions in the business. Leigh Baldwin & CO. LLC acquired a new position in NBT Bancorp during the fourth quarter worth $52,606,000. Silvercrest Asset Management Group LLC bought a new stake in NBT Bancorp during the 4th quarter worth about $38,978,000. Raymond James Financial Inc. acquired a new position in shares of NBT Bancorp during the 4th quarter worth about $23,651,000. JPMorgan Chase & Co. boosted its stake in shares of NBT Bancorp by 307.0% during the 4th quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank’s stock worth $17,998,000 after buying an additional 284,267 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of NBT Bancorp in the 4th quarter valued at about $12,007,000. 58.46% of the stock is owned by institutional investors.

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.