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

Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) have received an average rating of "Hold" from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $54.10.

NBTB has been the subject of several research reports. Keefe, Bruyette & Woods reiterated a "hold" rating and set a $54.00 price target (up from $52.00) on shares of NBT Bancorp in a report on Monday, August 3rd. DA Davidson raised their price objective on shares of NBT Bancorp from $52.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Piper Sandler lifted their target price on shares of NBT Bancorp from $50.00 to $56.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of NBT Bancorp in a research note on Tuesday, July 21st. Finally, Hovde Group decreased their target price on shares of NBT Bancorp from $47.00 to $46.50 and set a "market perform" rating for the company in a research report on Monday, April 27th.

NBT Bancorp Trading Down 0.4%

NBT Bancorp stock opened at $52.47 on Tuesday. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 12.83 and a beta of 0.48. NBT Bancorp has a 1 year low of $39.19 and a 1 year high of $54.50. The firm's 50 day moving average price is $49.97 and its two-hundred day moving average price is $46.21. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.87 and a current ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its earnings results on Monday, July 27th. The bank reported $1.01 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.01). The firm had revenue of $186.69 million during the quarter, compared to analyst estimates of $188.81 million. NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%. On average, research analysts predict that NBT Bancorp will post 4.15 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from NBT Bancorp's previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. NBT Bancorp's dividend payout ratio (DPR) is currently 36.19%.

Insider Buying and Selling

In other NBT Bancorp news, EVP Ruth H. Mahoney sold 4,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $54.30, for a total value of $244,350.00. Following the sale, the executive vice president owned 11,928 shares of the company's stock, valued at $647,690.40. This trade represents a 27.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Heidi M. Hoeller sold 2,100 shares of NBT Bancorp stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $48.03, for a total transaction of $100,863.00. Following the sale, the director owned 11,560 shares in the company, valued at approximately $555,226.80. This trade represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 20,600 shares of company stock valued at $1,064,573. Company insiders own 2.99% of the company's stock.

Institutional Investors Weigh In On NBT Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in NBT Bancorp by 1,645.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank's stock worth $27,000 after purchasing an additional 609 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank's stock valued at $34,000 after purchasing an additional 799 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of NBT Bancorp by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank's stock valued at $35,000 after purchasing an additional 324 shares during the last quarter. Western Wealth Management LLC acquired a new stake in shares of NBT Bancorp during the 1st quarter worth approximately $37,000. Finally, Global Retirement Partners LLC grew its position in shares of NBT Bancorp by 62.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank's stock worth $43,000 after buying an additional 399 shares during the period. 58.46% of the stock is owned by institutional investors and hedge funds.

About NBT Bancorp

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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