NBT Bancorp Inc. (NASDAQ:NBTB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have earned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $42.60.

Several analysts recently issued reports on the company. Stephens downgraded NBT Bancorp from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $42.00 to $49.00 in a report on Thursday. Raymond James downgraded NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods cut their price target on NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th.

Insiders Place Their Bets

In other NBT Bancorp news, EVP Sarah A. Halliday sold 1,325 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $35.66, for a total transaction of $47,249.50. Following the completion of the transaction, the executive vice president now owns 32,402 shares in the company, valued at approximately $1,155,455.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NBTB. Vanguard Group Inc. boosted its position in NBT Bancorp by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,515,875 shares of the bank’s stock worth $174,798,000 after acquiring an additional 445,814 shares during the period. Raymond James & Associates raised its stake in shares of NBT Bancorp by 1.5% in the 4th quarter. Raymond James & Associates now owns 73,518 shares of the bank’s stock worth $3,081,000 after buying an additional 1,058 shares in the last quarter. Blue Trust Inc. raised its stake in shares of NBT Bancorp by 69.9% in the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock worth $28,000 after buying an additional 276 shares in the last quarter. BLB&B Advisors LLC bought a new stake in shares of NBT Bancorp in the 4th quarter worth $589,000. Finally, Ascent Wealth Partners LLC bought a new stake in shares of NBT Bancorp in the 4th quarter worth $204,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Trading Up 0.9 %

NASDAQ:NBTB opened at $49.84 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $39.08 and its two-hundred day moving average is $36.91. NBT Bancorp has a 52 week low of $30.31 and a 52 week high of $50.83. The company has a market cap of $2.35 billion, a PE ratio of 19.24 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, July 22nd. The bank reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The firm had revenue of $194.00 million for the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.80 EPS. On average, analysts predict that NBT Bancorp will post 2.84 EPS for the current year.

NBT Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Friday, August 30th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. NBT Bancorp’s payout ratio is 52.51%.

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.