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

Key Points

• NBT Bancorp currently has a consensus analyst rating of “Moderate Buy” from six covering firms, with an average 12-month price target of $49.50.
• Recent insider selling included EVP Ruth H. Mahoney and Director Heidi M. Hoeller, who both reduced their stakes in June through stock sales totaling more than $333,000.
• The bank recently reported quarterly earnings of $0.97 per share, just below estimates, while also paying a quarterly dividend of $0.37 per share, equal to a 3.2% annualized yield.

Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $49.50.

Several equities research analysts have commented on NBTB shares. DA Davidson restated a "buy" rating and issued a $52.00 price target on shares of NBT Bancorp in a research note on Monday, April 27th. Weiss Ratings upgraded shares of NBT Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. Piper Sandler started coverage on shares of NBT Bancorp in a research note on Monday, March 16th. They issued an "overweight" rating and a $50.00 price target on the stock. Hovde Group dropped their price target on shares of NBT Bancorp from $47.00 to $46.50 and set a "market perform" rating on the stock in a research note on Monday, April 27th. Finally, Janney Montgomery Scott lowered shares of NBT Bancorp from a "buy" rating to a "neutral" rating in a research note on Monday, February 23rd.

Insider Activity at NBT Bancorp

In related news, EVP Ruth H. Mahoney sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $46.60, for a total transaction of $233,000.00. Following the transaction, the executive vice president owned 16,428 shares in the company, valued at $765,544.80. This trade represents a 23.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heidi M. Hoeller sold 2,100 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $48.03, for a total transaction of $100,863.00. Following the transaction, the director owned 11,560 shares in the company, valued at $555,226.80. This represents a 15.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of NBT Bancorp by 7.8% during the second quarter. State Street Corp now owns 2,531,336 shares of the bank's stock valued at $105,177,000 after acquiring an additional 182,793 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of 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 acquiring an additional 30,141 shares during the period. Victory Capital Management Inc. increased its stake in shares of NBT Bancorp by 2.0% during the fourth quarter. Victory Capital Management Inc. now owns 663,092 shares of the bank's stock valued at $27,532,000 after acquiring an additional 12,967 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of NBT Bancorp by 29.7% during the first quarter. The Manufacturers Life Insurance Company now owns 560,259 shares of the bank's stock valued at $23,856,000 after acquiring an additional 128,316 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of NBT Bancorp by 26.7% during the third quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank's stock valued at $13,986,000 after acquiring an additional 70,594 shares during the period. Institutional investors and hedge funds own 58.46% of the company's stock.

NBT Bancorp Stock Performance

Shares of NASDAQ NBTB opened at $46.68 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm's 50-day moving average price is $45.58 and its two-hundred day moving average price is $44.10. NBT Bancorp has a 52-week low of $39.19 and a 52-week high of $48.81. The stock has a market capitalization of $2.43 billion, a P/E ratio of 13.30 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. The firm had revenue of $184.48 million during the quarter, compared to analyst estimates of $185.36 million. As a group, sell-side analysts forecast that NBT Bancorp will post 4.15 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.37 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.48 annualized dividend and a dividend yield of 3.2%. NBT Bancorp's dividend payout ratio (DPR) is presently 42.17%.

NBT Bancorp Company Profile

NBT Bancorp, Inc NASDAQ: NBTB is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.

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