NBT Bancorp Inc. (NBTB) - What Are Investment Firms Saying About This Stock?

Key Points

• Analyst sentiment is neutral: Five of eight analysts rate NBT Bancorp “hold,” while three recommend buying. The average 12-month price target is $54.10, only modestly above the reported $52.87 share price.
• Recent financial results slightly missed expectations: NBT Bancorp reported quarterly EPS of $1.01 versus the $1.02 consensus estimate and revenue of $186.69 million versus $188.81 million expected. Analysts project full-year EPS of $4.17.
• The company increased its dividend: The quarterly payout rose to $0.40 per share, equivalent to $1.60 annually and a 3.0% yield. Institutional investors own 58.46% of the stock, while two executives recently sold shares.

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) has earned a consensus rating of "Hold" from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $54.10.

Several equities research analysts recently issued reports on NBTB shares. DA Davidson boosted their price target on NBT Bancorp from $52.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Wall Street Zen upgraded NBT Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, September 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of NBT Bancorp in a report on Monday, October 19th. Keefe, Bruyette & Woods reaffirmed a "hold" rating and issued a $54.00 price objective (up from $52.00) on shares of NBT Bancorp in a report on Monday, August 3rd. Finally, Stephens downgraded NBT Bancorp from an "overweight" rating to an "equal weight" rating and upped their target price for the company from $52.00 to $55.00 in a research report on Thursday, July 30th.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $52.87 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.75 billion, a P/E ratio of 12.93 and a beta of 0.49. NBT Bancorp has a 12-month low of $39.44 and a 12-month high of $54.50. The firm has a 50-day moving average price of $51.33 and a two-hundred day moving average price of $49.19.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its earnings results on Monday, July 27th. The bank reported $1.01 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.01). NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%. The business had revenue of $186.69 million for the quarter, compared to the consensus estimate of $188.81 million. Analysts anticipate that NBT Bancorp will post 4.17 earnings per share for the current year.

NBT Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. This is a boost from NBT Bancorp's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, September 1st. NBT Bancorp's payout ratio is presently 39.12%.

Insider Transactions at NBT Bancorp

In related news, EVP Sarah Halliday sold 9,000 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $54.04, for a total transaction of $486,360.00. Following the completion of the sale, the executive vice president owned 22,054 shares of the company's stock, valued at $1,191,798.16. This represents a 28.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ruth Mahoney sold 4,500 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $54.30, for a total transaction of $244,350.00. Following the sale, the executive vice president owned 11,928 shares in the company, valued at $647,690.40. The trade was a 27.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.99% of the stock is owned by insiders.

Institutional Trading of NBT Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in NBT Bancorp in the second quarter valued at approximately $369,183,000. Dimensional Fund Advisors LP raised its position in NBT Bancorp by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,330,975 shares of the bank's stock valued at $99,252,000 after purchasing an additional 30,141 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in NBT Bancorp during the second quarter worth $27,632,000. Bank of New York Mellon Corp bought a new stake in NBT Bancorp during the second quarter worth $22,685,000. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of NBT Bancorp in the 2nd quarter valued at $13,673,000. Institutional investors own 58.46% of the company's stock.

About NBT Bancorp

NBT Bancorp Inc is the bank holding company for NBT Bank, a community banking institution headquartered in Norwich, New York. Through NBT Bank and its subsidiaries, the company provides banking, lending, investment, insurance and financial services to consumers, businesses, nonprofit organizations and municipalities.

NBT Bank offers checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, business lending, cash-management services and agricultural financing.

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