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

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been given a consensus rating of “Moderate Buy” by the five research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $54.50.

A number of brokerages recently weighed in on NBTB. StockNews.com lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. DA Davidson started coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a research report on Wednesday, January 29th. Finally, Hovde Group initiated coverage on shares of NBT Bancorp in a report on Friday, March 21st. They set a “market perform” rating and a $50.00 target price for the company.

NBT Bancorp Trading Down 0.9 %

Shares of NBTB stock opened at $43.09 on Friday. The firm has a 50-day moving average price of $46.19 and a 200 day moving average price of $46.76. NBT Bancorp has a 12-month low of $32.93 and a 12-month high of $52.44. The company has a market capitalization of $2.04 billion, a P/E ratio of 14.56 and a beta of 0.48. 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 results on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same quarter in the prior year, the company earned $0.72 EPS. Research analysts forecast that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, March 3rd. NBT Bancorp’s dividend payout ratio (DPR) is currently 45.95%.

Insider Buying and Selling at NBT Bancorp

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NBTB. Wealth Enhancement Advisory Services LLC increased its holdings in NBT Bancorp by 55.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock worth $9,946,000 after purchasing an additional 80,232 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of NBT Bancorp by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock valued at $32,632,000 after acquiring an additional 75,693 shares in the last quarter. Barclays PLC lifted its position in shares of NBT Bancorp by 41.8% during the 3rd quarter. Barclays PLC now owns 91,880 shares of the bank’s stock valued at $4,064,000 after acquiring an additional 27,085 shares during the period. Lisanti Capital Growth LLC boosted its position in shares of NBT Bancorp by 53.0% during the 4th quarter. Lisanti Capital Growth LLC now owns 66,035 shares of the bank’s stock worth $3,154,000 after purchasing an additional 22,865 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in NBT Bancorp by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after acquiring an additional 10,628 shares during the period. Institutional investors and hedge funds 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.