NBT Bancorp Inc. (NASDAQ:NBTB) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• NBT Bancorp Inc. has received a consensus rating of "Moderate Buy" from analysts, with an average 12-month price target of $52.00.
• The company recently increased its quarterly dividend from $0.34 to $0.37, representing an annualized dividend of $1.48 and a yield of 3.5%.
• NBT Bancorp reported earnings per share of $0.88 for the last quarter, exceeding analysts' expectations and marking a positive performance against a backdrop of steady revenue growth.

Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $52.00.

A number of research analysts have weighed in on the company. Piper Sandler set a $47.00 price target on NBT Bancorp and gave the company an "overweight" rating in a research note on Tuesday. DA Davidson raised their price target on NBT Bancorp from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Weiss Ratings restated a "hold (c+)" rating on shares of NBT Bancorp in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded NBT Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd.

NBT Bancorp Stock Up 6.4%

Shares of NBT Bancorp stock opened at $42.18 on Wednesday. NBT Bancorp has a 1 year low of $37.31 and a 1 year high of $52.44. The business has a 50-day moving average of $42.66 and a two-hundred day moving average of $42.14. The company has a market capitalization of $2.21 billion, a P/E ratio of 15.23 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.88 and a quick ratio of 0.88.

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

NBT Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from NBT Bancorp's previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.5%. NBT Bancorp's payout ratio is 53.43%.

Insider Activity

In related news, Director David J. Nasca sold 19,603 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.42, for a total value of $851,162.26. Following the completion of the sale, the director directly owned 82,910 shares in the company, valued at $3,599,952.20. The trade was a 19.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.03% of the stock is currently owned by insiders.

Institutional Trading of NBT Bancorp

Several institutional investors have recently added to or reduced their stakes in NBTB. EverSource Wealth Advisors LLC boosted its stake in NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank's stock valued at $27,000 after purchasing an additional 609 shares during the period. Hantz Financial Services Inc. bought a new stake in NBT Bancorp in the 2nd quarter valued at $33,000. TD Private Client Wealth LLC boosted its stake in NBT Bancorp by 51.3% in the 1st quarter. TD Private Client Wealth LLC now owns 867 shares of the bank's stock valued at $37,000 after purchasing an additional 294 shares during the period. Farther Finance Advisors LLC boosted its stake in NBT Bancorp by 2,902.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,441 shares of the bank's stock valued at $60,000 after purchasing an additional 1,393 shares during the period. Finally, Cloud Capital Management LLC bought a new stake in NBT Bancorp in the 1st quarter valued at $68,000. 58.46% of the stock is currently owned by institutional investors.

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.

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