Brokerages Set NBT Bancorp Inc. (NASDAQ:NBTB) PT at $52.00

Key Points

• Brokerages have issued a consensus recommendation of "Hold" for NBT Bancorp Inc. (NASDAQ:NBTB), with an average one-year price target set at $52.00.
• NBT Bancorp recently reported earnings of $0.88 per share, exceeding analysts' expectations, and announced an increased quarterly dividend of $0.37.
• Insider activity was noted as Director David J. Nasca sold 19,603 shares at a price of $43.42, decreasing his position by 19.12%.

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) has earned a consensus recommendation of "Hold" from the five ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $52.00.

A number of analysts recently issued reports on NBTB shares. DA Davidson increased their price objective on NBT Bancorp from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Piper Sandler raised shares of NBT Bancorp to a "neutral" rating and set a $47.00 price target on the stock in a report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of NBT Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd.

NBT Bancorp Stock Performance

NBT Bancorp stock traded up $0.44 during mid-day trading on Friday, reaching $43.27. The company's stock had a trading volume of 19,023 shares, compared to its average volume of 234,760. The firm's fifty day moving average price is $42.85 and its two-hundred day moving average price is $42.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.88 and a current ratio of 0.88. NBT Bancorp has a 12-month low of $37.31 and a 12-month high of $52.44. The company has a market capitalization of $2.27 billion, a P/E ratio of 15.68 and a beta of 0.60.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its earnings results on Monday, July 28th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. NBT Bancorp had a return on equity of 9.81% and a net margin of 16.10%.The firm had revenue of $171.15 million for the quarter, compared to the consensus estimate of $171.04 million. Sell-side analysts predict that NBT Bancorp will post 3.69 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is an increase from NBT Bancorp's previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a dividend yield of 3.4%. NBT Bancorp's payout ratio is currently 53.43%.

Insider Activity

In related news, Director David J. Nasca sold 19,603 shares of NBT Bancorp stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.42, for a total transaction of $851,162.26. Following the completion of the sale, the director owned 82,910 shares of the company's stock, valued at approximately $3,599,952.20. This trade represents a 19.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.03% of the company's stock.

Institutional Trading of NBT Bancorp

Large investors have recently modified their holdings of the business. Deutsche Bank AG increased its position in shares of NBT Bancorp by 53.1% in the fourth quarter. Deutsche Bank AG now owns 39,645 shares of the bank's stock worth $1,893,000 after purchasing an additional 13,742 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of NBT Bancorp by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,191 shares of the bank's stock valued at $1,251,000 after buying an additional 997 shares in the last quarter. Millennium Management LLC raised its position in shares of NBT Bancorp by 21.5% during the 4th quarter. Millennium Management LLC now owns 53,772 shares of the bank's stock valued at $2,568,000 after buying an additional 9,526 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of NBT Bancorp by 48.0% during the 4th quarter. Voloridge Investment Management LLC now owns 36,179 shares of the bank's stock worth $1,728,000 after acquiring an additional 11,730 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NBT Bancorp by 13.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,895 shares of the bank's stock worth $6,825,000 after acquiring an additional 17,225 shares in the last quarter. 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.