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

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been given an average recommendation of “Hold” by the five research firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $52.75.

Several research firms recently issued reports on NBTB. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a report on Wednesday, January 29th. DA Davidson decreased their price objective on shares of NBT Bancorp from $57.00 to $53.00 and set a “buy” rating for the company in a report on Monday. 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 price objective for the company. Finally, StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th.

Insider Activity

In other NBT Bancorp news, Director Heidi M. Hoeller acquired 678 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $48.45 per share, for a total transaction of $32,849.10. Following the purchase, the director now owns 6,437 shares in the company, valued at $311,872.65. This represents a 11.77 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sarah A. Halliday sold 5,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction of $242,250.00. Following the completion of the transaction, the executive vice president now owns 25,564 shares of the company’s stock, 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. Corporate insiders own 3.03% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

Several large investors have recently made changes to their positions in NBTB. Leigh Baldwin & CO. LLC bought a new stake in shares of NBT Bancorp during the fourth quarter valued at approximately $52,606,000. Silvercrest Asset Management Group LLC acquired a new position in NBT Bancorp during the 4th quarter worth $38,978,000. Raymond James Financial Inc. acquired a new position in NBT Bancorp during the 4th quarter worth $23,651,000. JPMorgan Chase & Co. lifted its holdings in 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 in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in NBT Bancorp during the 4th quarter worth $12,007,000. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NBTB opened at $42.80 on Wednesday. The company’s 50 day moving average price is $42.61 and its 200 day moving average price is $46.16. NBT Bancorp has a 52 week low of $34.47 and a 52 week high of $52.44. The company has a market capitalization of $2.02 billion, a PE ratio of 14.46 and a beta of 0.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. The company had revenue of $155.31 million during the quarter, compared to the consensus estimate of $151.00 million. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same period in the previous year, the firm posted $0.68 earnings per share. Research analysts expect that NBT Bancorp will post 3.69 EPS for the current fiscal year.

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.