NBT Bancorp Inc. (NASDAQ:NBTB) Receives $52.75 Average PT from Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) have received a consensus rating of "Hold" from the five research firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $52.75.

Several brokerages have weighed in on NBTB. Hovde Group began coverage on NBT Bancorp in a research report on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price on the stock. StockNews.com lowered NBT Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. DA Davidson dropped their target price on NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Stephens upgraded NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price objective for the company in a research report on Wednesday, January 29th.

NBT Bancorp Stock Performance

NASDAQ NBTB traded down $0.10 during trading hours on Friday, reaching $43.68. The company's stock had a trading volume of 185,655 shares, compared to its average volume of 237,708. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $42.05 and a 200 day simple moving average of $46.00. NBT Bancorp has a 52 week low of $34.47 and a 52 week high of $52.44. The stock has a market cap of $2.06 billion, a PE ratio of 14.76 and a beta of 0.58.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.04. NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. The firm had revenue of $155.31 million for the quarter, compared to analyst estimates of $151.00 million. During the same period last year, the company earned $0.68 earnings per share. Equities research analysts predict that NBT Bancorp will post 3.69 earnings per share 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. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.11%. NBT Bancorp's payout ratio is 45.03%.

Insider Buying and Selling at NBT Bancorp

In related news, Director Heidi M. Hoeller bought 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, with a total value of $110,315.13. Following the purchase, the director now owns 8,990 shares in the company, valued at approximately $388,457.90. This represents a 39.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.03% of the stock is owned by corporate insiders.

Institutional Trading of NBT Bancorp

Several institutional investors have recently modified their holdings of the company. TD Private Client Wealth LLC grew its holdings in NBT Bancorp by 51.3% during the first 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. Cloud Capital Management LLC acquired a new position in NBT Bancorp during the first quarter worth about $68,000. Sterling Capital Management LLC grew its holdings in NBT Bancorp by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock worth $69,000 after acquiring an additional 1,292 shares during the period. Rialto Wealth Management LLC acquired a new position in NBT Bancorp during the fourth quarter worth about $87,000. Finally, US Bancorp DE grew its holdings in NBT Bancorp by 42.0% during the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank's stock worth $88,000 after acquiring an additional 543 shares during the period. Institutional investors and hedge funds own 58.46% of the company's stock.

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.