NBT Bancorp (NASDAQ:NBTB) Price Target Lowered to $39.00 at Keefe, Bruyette & Woods

NBT Bancorp (NASDAQ:NBTB - Free Report) had its price objective cut by Keefe, Bruyette & Woods from $41.00 to $39.00 in a report released on Wednesday morning, Benzinga reports. They currently have a market perform rating on the bank's stock.

Several other equities research analysts have also recently commented on the company. Raymond James boosted their target price on NBT Bancorp from $40.00 to $45.00 and gave the stock an outperform rating in a report on Friday, January 5th. Piper Sandler dropped their target price on NBT Bancorp from $42.00 to $41.00 and set an overweight rating on the stock in a report on Thursday, January 25th. Stephens reissued an overweight rating and set a $42.00 target price on shares of NBT Bancorp in a report on Tuesday. Finally, Janney Montgomery Scott raised NBT Bancorp from a neutral rating to a buy rating and set a $39.00 target price on the stock in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, NBT Bancorp presently has a consensus rating of Moderate Buy and a consensus target price of $41.20.

NBT Bancorp Stock Performance

Shares of NASDAQ NBTB traded down $0.12 during midday trading on Wednesday, hitting $35.90. 175,088 shares of the company's stock were exchanged, compared to its average volume of 208,563. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.86 and a quick ratio of 0.86. The stock's 50 day moving average price is $34.77 and its 200-day moving average price is $36.23. The firm has a market cap of $1.69 billion, a P/E ratio of 13.71 and a beta of 0.51. NBT Bancorp has a twelve month low of $27.52 and a twelve month high of $43.77.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. The business had revenue of $192.33 million during the quarter, compared to the consensus estimate of $135.01 million. NBT Bancorp had a return on equity of 10.41% and a net margin of 16.71%. During the same period in the previous year, the firm posted $0.88 earnings per share. Equities research analysts anticipate that NBT Bancorp will post 2.89 EPS for the current year.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director Lowell A. Seifter sold 4,770 shares of NBT Bancorp stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $37.50, for a total transaction of $178,875.00. Following the transaction, the director now directly owns 44,362 shares in the company, valued at approximately $1,663,575. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Lowell A. Seifter sold 3,230 shares of the business's stock in a transaction on Friday, January 26th. The shares were sold at an average price of $36.96, for a total transaction of $119,380.80. Following the transaction, the director now directly owns 49,132 shares in the company, valued at approximately $1,815,918.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lowell A. Seifter sold 4,770 shares of the business's stock in a transaction on Monday, January 29th. The shares were sold at an average price of $37.50, for a total transaction of $178,875.00. Following the transaction, the director now owns 44,362 shares in the company, valued at $1,663,575. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,641 shares of company stock valued at $319,806. Corporate insiders own 3.32% of the company's stock.

Institutional Investors Weigh In On NBT Bancorp

A number of large investors have recently bought and sold shares of NBTB. Longfellow Investment Management Co. LLC bought a new stake in NBT Bancorp in the third quarter worth $27,000. Register Financial Advisors LLC acquired a new position in NBT Bancorp during the 1st quarter worth $27,000. Blue Trust Inc. lifted its position in NBT Bancorp by 69.9% during the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank's stock worth $28,000 after acquiring an additional 276 shares during the last quarter. Asset Dedication LLC acquired a new position in NBT Bancorp during the 3rd quarter worth $37,000. Finally, Bare Financial Services Inc acquired a new position in NBT Bancorp during the 4th quarter worth $98,000. 58.46% of the stock is currently owned by institutional investors.

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.