NBT Bancorp Inc. (NASDAQ:NBTB) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the five research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $41.20.

A number of equities research analysts have issued reports on NBTB shares. Stephens restated an "overweight" rating and set a $42.00 price target on shares of NBT Bancorp in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods lowered their price objective on shares of NBT Bancorp from $41.00 to $39.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 24th. Piper Sandler lowered their price objective 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. Finally, Janney Montgomery Scott upgraded shares of NBT Bancorp from a "neutral" rating to a "buy" rating and set a $39.00 price objective on the stock in a research note on Thursday, March 21st.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB traded up $0.04 during trading hours on Friday, reaching $37.74. 152,414 shares of the stock traded hands, compared to its average volume of 200,281. The company has a market capitalization of $1.78 billion, a P/E ratio of 14.56 and a beta of 0.52. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 52-week low of $30.31 and a 52-week high of $43.77. The company's 50-day simple moving average is $35.22 and its two-hundred day simple moving average is $36.48.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.68 EPS 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 return on equity of 10.20% and a net margin of 16.71%. During the same period in the previous year, the firm earned $0.88 EPS. Equities research analysts forecast that NBT Bancorp will post 2.82 EPS for the current year.

Institutional Trading of NBT Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in NBT Bancorp by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 513,545 shares of the bank's stock valued at $16,274,000 after buying an additional 31,876 shares during the period. Northern Trust Corp lifted its holdings in NBT Bancorp by 5.7% during the third quarter. Northern Trust Corp now owns 741,141 shares of the bank's stock valued at $23,487,000 after purchasing an additional 39,912 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in NBT Bancorp by 11.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 504,681 shares of the bank's stock valued at $15,993,000 after purchasing an additional 51,671 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in NBT Bancorp during the fourth quarter valued at $989,000. Finally, Graham Capital Management L.P. purchased a new position in shares of NBT Bancorp in the third quarter worth about $676,000. Institutional investors and hedge funds own 58.46% of the company's stock.

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.