Analysts Set NBT Bancorp Inc. (NASDAQ:NBTB) Target Price at $52.75

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) has received a consensus rating of "Hold" from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $52.75.

Several equities analysts recently issued reports on NBTB shares. DA Davidson dropped their target price on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Hovde Group assumed coverage on shares of NBT Bancorp in a research report on Friday, March 21st. They set a "market perform" rating and a $50.00 target price for the company. Finally, Wall Street Zen cut shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

Insider Transactions at NBT Bancorp

In other news, Director John H. Watt, Jr. sold 7,869 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $42.02, for a total value of $330,655.38. Following the completion of the sale, the director now directly owns 116,027 shares of the company's stock, valued at approximately $4,875,454.54. This trade represents a 6.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Heidi M. Hoeller bought 2,553 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was bought at an average cost of $43.21 per share, with a total value of $110,315.13. Following the completion of the transaction, the director now owns 8,990 shares in the company, valued at approximately $388,457.90. This trade represents a 39.66% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 5,491 shares of company stock valued at $235,674. Company insiders own 3.03% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. TD Private Client Wealth LLC raised its holdings in NBT Bancorp by 51.3% in the first quarter. TD Private Client Wealth LLC now owns 867 shares of the bank's stock worth $37,000 after buying an additional 294 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in shares of NBT Bancorp by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,815 shares of the bank's stock worth $230,000 after purchasing an additional 310 shares during the period. Bank of Montreal Can boosted its position in shares of NBT Bancorp by 6.8% in the fourth quarter. Bank of Montreal Can now owns 7,278 shares of the bank's stock worth $348,000 after purchasing an additional 461 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of NBT Bancorp by 1.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,218 shares of the bank's stock worth $1,425,000 after buying an additional 496 shares in the last quarter. Finally, US Bancorp DE raised its stake in NBT Bancorp by 42.0% during the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank's stock valued at $88,000 after purchasing an additional 543 shares in the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Trading Down 2.9%

Shares of NASDAQ:NBTB traded down $1.22 during mid-day trading on Thursday, reaching $40.76. 187,455 shares of the company's stock were exchanged, compared to its average volume of 239,991. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 13.77 and a beta of 0.58. The business's fifty day moving average price is $41.85 and its 200-day moving average price is $45.04. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp has a twelve month low of $35.20 and a twelve month high of $52.44.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.04. The company had revenue of $155.31 million for the quarter, compared to analyst estimates 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 in the previous year, the business earned $0.68 earnings per share. On average, research analysts predict that NBT Bancorp will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.34 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.36 annualized dividend and a dividend yield of 3.34%. NBT Bancorp's dividend payout ratio is 45.03%.

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.