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

Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) have received a consensus rating 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 12-month price objective among brokers that have covered the stock in the last year is $52.75.

NBTB has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Hovde Group initiated coverage on shares of NBT Bancorp in a report on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price on the stock. Finally, DA Davidson decreased their price target 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.

NBT Bancorp Price Performance

Shares of NBTB stock traded down $0.57 during trading hours on Monday, reaching $43.30. 193,088 shares of the company were exchanged, compared to its average volume of 240,509. NBT Bancorp has a fifty-two week low of $37.31 and a fifty-two week high of $52.44. The stock's fifty day moving average is $42.25 and its two-hundred day moving average is $44.07. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 14.34 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.86 and a quick ratio of 0.86.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.76 by $0.04. NBT Bancorp had a net margin of 17.99% and a return on equity of 9.57%. The firm had revenue of $155.31 million during the quarter, compared to the consensus estimate of $151.00 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. Sell-side analysts forecast that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.34 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.36 annualized dividend and a yield of 3.14%. NBT Bancorp's payout ratio is currently 45.03%.

Insider Activity

In other news, Director Heidi M. Hoeller acquired 2,588 shares of the stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $42.88 per share, with a total value of $110,973.44. Following the completion of the transaction, the director owned 11,578 shares of the company's stock, valued at $496,464.64. This represents a 28.79% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John H. Watt, Jr. sold 7,869 shares of the firm's stock in a transaction 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 directly owned 116,027 shares of the company's stock, valued at $4,875,454.54. This represents a 6.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 5,491 shares of company stock worth $235,674. Insiders own 3.03% of the company's stock.

Institutional Investors Weigh In On NBT Bancorp

Several large investors have recently bought and sold shares of the business. Harbor Investment Advisory LLC bought a new position in shares of NBT Bancorp during the 2nd quarter valued at approximately $151,000. Voya Investment Management LLC raised its holdings in shares of NBT Bancorp by 28.3% during the 1st quarter. Voya Investment Management LLC now owns 80,158 shares of the bank's stock worth $3,439,000 after acquiring an additional 17,677 shares in the last quarter. Ellsworth Advisors LLC purchased a new stake in NBT Bancorp during the 1st quarter valued at $606,000. Mendon Capital Advisors Corp purchased a new stake in NBT Bancorp during the 1st quarter valued at $620,000. Finally, Jane Street Group LLC grew its position in NBT Bancorp by 1,188.4% in the 1st quarter. Jane Street Group LLC now owns 88,284 shares of the bank's stock valued at $3,787,000 after acquiring an additional 81,432 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors.

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.