Stephens Reaffirms Overweight Rating for NBT Bancorp (NASDAQ:NBTB)

Stephens reissued their overweight rating on shares of NBT Bancorp (NASDAQ:NBTB - Free Report) in a research report sent to investors on Tuesday morning, Benzinga reports. Stephens currently has a $42.00 price objective on the bank's stock.

Several other equities research analysts also recently weighed in on the stock. Raymond James raised their price target on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an outperform rating in a research report on Friday, January 5th. Janney Montgomery Scott raised shares of NBT Bancorp from a neutral rating to a buy rating and set a $39.00 price target for the company in a research report on Thursday, March 21st. Piper Sandler reduced their price target on shares of NBT Bancorp from $42.00 to $41.00 and set an overweight rating for the company in a research report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of NBT Bancorp from $45.00 to $41.00 and set a market perform rating for the company in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $41.60.

NBT Bancorp Stock Up 3.5 %

Shares of NASDAQ NBTB traded up $1.23 on Tuesday, reaching $36.02. 226,134 shares of the company's stock traded hands, compared to its average volume of 208,993. NBT Bancorp has a 12 month low of $27.52 and a 12 month high of $43.77. The business's 50 day simple moving average is $34.77 and its two-hundred day simple moving average is $36.23. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 13.54 and a beta of 0.51. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.18.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its earnings results on Monday, April 22nd. The bank reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.01. NBT Bancorp had a net margin of 17.86% and a return on equity of 11.10%. The business had revenue of $192.33 million during the quarter, compared to the consensus estimate of $135.01 million. During the same quarter last year, the firm earned $0.88 earnings per share. As a group, equities research analysts forecast that NBT Bancorp will post 2.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Scott Allen Kingsley bought 1,000 shares of the company's stock in a transaction that occurred on Thursday, January 25th. The shares were bought at an average price of $36.80 per share, for a total transaction of $36,800.00. Following the completion of the acquisition, the chief financial officer now owns 25,513 shares of the company's stock, valued at approximately $938,878.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NBT Bancorp news, CFO Scott Allen Kingsley acquired 1,000 shares of the business's stock in a transaction dated Thursday, January 25th. The stock was purchased at an average price of $36.80 per share, with a total value of $36,800.00. Following the transaction, the chief financial officer now directly owns 25,513 shares in the company, valued at approximately $938,878.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 sale, the director now directly owns 49,132 shares of the company's stock, valued at approximately $1,815,918.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,641 shares of company stock worth $319,806. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its position in shares of NBT Bancorp by 69.9% during the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank's stock valued at $28,000 after acquiring an additional 276 shares during the period. Register Financial Advisors LLC bought a new position in NBT Bancorp in the 1st quarter worth $27,000. Longfellow Investment Management Co. LLC bought a new position in NBT Bancorp in the 3rd quarter worth $27,000. Asset Dedication LLC bought a new position in NBT Bancorp in the 3rd quarter worth $37,000. Finally, Bare Financial Services Inc bought a new position in NBT Bancorp in the 4th quarter worth $98,000. Institutional investors own 58.46% of the company's stock.

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.