Brokerages Set NBT Bancorp Inc. (NASDAQ:NBTB) PT at $54.50

Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $54.50.

NBTB has been the topic of a number of recent analyst reports. Hovde Group began coverage on shares of NBT Bancorp in a report on Friday, March 21st. They issued a "market perform" rating and a $50.00 price objective on the stock. Stephens raised NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price target for the company in a report on Wednesday, January 29th. Finally, StockNews.com downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, January 16th.

NBT Bancorp Stock Down 1.2 %

Shares of NASDAQ NBTB traded down $0.51 on Wednesday, hitting $42.10. The company had a trading volume of 136,857 shares, compared to its average volume of 219,588. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 12-month low of $34.47 and a 12-month high of $52.44. The firm has a market capitalization of $1.99 billion, a P/E ratio of 14.23 and a beta of 0.53. The business has a 50 day moving average of $42.81 and a two-hundred day moving average of $46.20.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. The company had revenue of $155.31 million during the quarter, compared to the consensus estimate of $151.00 million. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same quarter last year, the company earned $0.68 earnings per share. As a group, equities research analysts forecast that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

Insider Buying and Selling at NBT Bancorp

In related news, EVP Sarah A. Halliday sold 5,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction of $242,250.00. Following the sale, the executive vice president now owns 25,564 shares in the company, valued at $1,238,575.80. This represents a 16.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Heidi M. Hoeller bought 678 shares of the firm's stock in a transaction on Friday, February 7th. The stock was bought at an average price of $48.45 per share, with a total value of $32,849.10. Following the completion of the purchase, the director now owns 6,437 shares of the company's stock, valued at $311,872.65. This trade represents a 11.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.03% of the stock is currently owned by insiders.

Institutional Trading of NBT Bancorp

Hedge funds have recently made changes to their positions in the stock. Leigh Baldwin & CO. LLC bought a new stake in NBT Bancorp in the fourth quarter valued at $52,606,000. Silvercrest Asset Management Group LLC bought a new stake in NBT Bancorp in the 4th quarter valued at about $38,978,000. Raymond James Financial Inc. bought a new position in NBT Bancorp in the 4th quarter worth about $23,651,000. JPMorgan Chase & Co. increased its stake in shares of NBT Bancorp by 307.0% in the fourth quarter. JPMorgan Chase & Co. now owns 376,849 shares of the bank's stock valued at $17,998,000 after purchasing an additional 284,267 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of NBT Bancorp during the fourth quarter valued at approximately $12,007,000. 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.