NBT Bancorp Inc. (NASDAQ:NBTB) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) have earned an average recommendation of "Hold" from the five analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $52.75.

Several research firms recently commented on NBTB. DA Davidson decreased their price objective on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Wall Street Zen lowered shares of NBT Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Hovde Group initiated coverage on NBT Bancorp in a report on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price on the stock.

Insider Activity

In other news, Director John H. Watt, Jr. sold 7,869 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $42.02, for a total value of $330,655.38. Following the transaction, the director now directly owns 116,027 shares of the company's stock, valued at $4,875,454.54. This trade represents a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Heidi M. Hoeller acquired 2,553 shares of the stock in a transaction on Tuesday, April 29th. The shares were purchased at an average price of $43.21 per share, for a total transaction 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 represents a 39.66% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 5,491 shares of company stock worth $235,674. Insiders own 3.03% of the company's stock.

Institutional Trading of NBT Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. TD Private Client Wealth LLC boosted its position in NBT Bancorp by 51.3% during the 1st quarter. TD Private Client Wealth LLC now owns 867 shares of the bank's stock worth $37,000 after acquiring an additional 294 shares during the period. Sterling Capital Management LLC lifted its position in NBT Bancorp by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock worth $69,000 after buying an additional 1,292 shares in the last quarter. Cloud Capital Management LLC acquired a new position in shares of NBT Bancorp in the first quarter worth $68,000. Rialto Wealth Management LLC purchased a new stake in shares of NBT Bancorp during the fourth quarter worth $87,000. Finally, US Bancorp DE boosted its position 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 during the last quarter. Institutional investors and hedge funds own 58.46% of the company's stock.

NBT Bancorp Trading Down 0.2%

NASDAQ NBTB traded down $0.10 on Thursday, reaching $41.98. The stock had a trading volume of 123,549 shares, compared to its average volume of 239,472. The stock has a fifty day moving average price of $41.81 and a two-hundred day moving average price of $45.18. NBT Bancorp has a 12-month low of $35.20 and a 12-month high of $52.44. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 14.18 and a beta of 0.58. 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 (NASDAQ:NBTB - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.04. The business had revenue of $155.31 million for the quarter, compared to the consensus estimate of $151.00 million. NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same quarter in the prior year, the business posted $0.68 EPS. As a group, sell-side analysts forecast that NBT Bancorp will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.34 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.36 annualized dividend and a dividend yield of 3.24%. NBT Bancorp's dividend payout ratio is currently 45.03%.

NBT Bancorp Company Profile

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.