NBT Bancorp (NASDAQ:NBTB) Stock Rating Reaffirmed by Stephens

NBT Bancorp (NASDAQ:NBTB)‘s stock had its “overweight” rating reiterated by research analysts at Stephens in a research report issued on Tuesday, Benzinga reports. They currently have a $42.00 price objective on the bank’s stock. Stephens’ target price would suggest a potential upside of 16.99% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Raymond James increased their price target on NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Janney Montgomery Scott raised shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Thursday, March 21st. Finally, Piper Sandler lowered their target price on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.20.

NBT Bancorp Stock Down 0.3 %

NASDAQ:NBTB opened at $35.90 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average of $34.79 and a 200-day moving average of $36.23. The firm has a market capitalization of $1.69 billion, a PE ratio of 13.86 and a beta of 0.51. NBT Bancorp has a 52 week low of $27.52 and a 52 week high of $43.77.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $192.33 million for the quarter, compared to analysts’ expectations of $135.01 million. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.41%. During the same quarter last year, the company earned $0.88 EPS. Analysts predict that NBT Bancorp will post 2.89 EPS for the current year.

Insider Activity

In other NBT Bancorp news, Director Lowell A. Seifter sold 3,230 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $36.96, for a total transaction of $119,380.80. Following the completion of the sale, the director now directly owns 49,132 shares of the company’s stock, valued at $1,815,918.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Lowell A. Seifter sold 4,770 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $37.50, for a total transaction of $178,875.00. Following the transaction, the director now owns 44,362 shares in the company, valued at approximately $1,663,575. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lowell A. Seifter sold 3,230 shares of NBT Bancorp stock in a transaction on Friday, January 26th. The shares were sold at an average price of $36.96, for a total transaction of $119,380.80. Following the completion of the sale, the director now directly owns 49,132 shares of the company’s stock, valued at approximately $1,815,918.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,641 shares of company stock worth $319,806. Insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of NBT Bancorp during the 3rd quarter worth about $498,000. State of Alaska Department of Revenue raised its holdings in NBT Bancorp by 4.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 29,406 shares of the bank’s stock valued at $931,000 after acquiring an additional 1,176 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of NBT Bancorp by 8.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 126,564 shares of the bank’s stock worth $4,011,000 after acquiring an additional 9,901 shares during the period. Maryland State Retirement & Pension System increased its position in shares of NBT Bancorp by 4.1% during the third quarter. Maryland State Retirement & Pension System now owns 17,396 shares of the bank’s stock valued at $551,000 after purchasing an additional 681 shares during the period. Finally, Raymond James & Associates increased its holdings in NBT Bancorp by 9.4% in the 3rd quarter. Raymond James & Associates now owns 72,460 shares of the bank’s stock valued at $2,296,000 after buying an additional 6,197 shares during the period. 58.46% of the stock is currently owned by institutional investors.

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.