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

NBT Bancorp Inc. (NASDAQ:NBTB) has been given an average recommendation of “Hold” by the five brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $42.60.

A number of analysts have recently commented on the company. Stephens restated an “equal weight” rating and set a $49.00 price objective on shares of NBT Bancorp in a report on Tuesday. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th.

Insider Buying and Selling at NBT Bancorp

In other news, EVP Sarah A. Halliday sold 1,325 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $35.66, for a total value of $47,249.50. Following the completion of the sale, the executive vice president now owns 32,402 shares in the company, valued at $1,155,455.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in NBT Bancorp by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 5,642,447 shares of the bank’s stock worth $236,475,000 after buying an additional 126,572 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of NBT Bancorp by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,297,333 shares of the bank’s stock worth $88,675,000 after acquiring an additional 46,498 shares in the last quarter. Deprince Race & Zollo Inc. boosted its holdings in NBT Bancorp by 14.9% in the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock valued at $31,978,000 after purchasing an additional 107,404 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in NBT Bancorp by 540.2% in the second quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock valued at $27,147,000 after purchasing an additional 593,436 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in NBT Bancorp by 36.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock valued at $24,307,000 after purchasing an additional 169,180 shares in the last quarter. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

NBT Bancorp Trading Down 2.5 %

NASDAQ NBTB opened at $43.79 on Thursday. The company has a market cap of $2.07 billion, a P/E ratio of 16.91 and a beta of 0.50. NBT Bancorp has a 12 month low of $30.31 and a 12 month high of $50.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.86. The company has a 50-day moving average of $45.49 and a 200-day moving average of $39.24.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). The company had revenue of $194.00 million for the quarter, compared to analyst estimates of $139.02 million. NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. During the same period last year, the company posted $0.80 EPS. As a group, equities analysts predict that NBT Bancorp will post 2.86 earnings per share for the current year.

NBT Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.34 dividend. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, August 30th. NBT Bancorp’s dividend payout ratio is currently 52.51%.

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.