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

Key Points

• NBT Bancorp has a consensus analyst rating of “Moderate Buy”, with six covering firms split evenly between three buy ratings and three hold ratings. The average 12-month price target is $51.50.
• The stock was trading near its 52-week high, opening at $53.18, while the company reported quarterly EPS of $0.97, slightly below expectations. Analysts expect full-year EPS of 4.14.
• NBT Bancorp recently paid a quarterly dividend of $0.37 per share, implying an annualized yield of 2.8%. The company also saw recent insider sales and strong institutional ownership, with institutions holding 58.46% of shares.

Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) have received an average rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $51.50.

Several equities research analysts recently weighed in on the company. Weiss Ratings upgraded NBT Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Piper Sandler lifted their price target on NBT Bancorp from $50.00 to $56.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. Hovde Group lowered their price objective on 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. Finally, DA Davidson reiterated a "buy" rating and issued a $52.00 price objective on shares of NBT Bancorp in a research report on Monday, April 27th.

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $53.18 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $2.77 billion, a PE ratio of 15.15 and a beta of 0.48. The firm has a fifty day simple moving average of $47.48 and a two-hundred day simple moving average of $45.00. NBT Bancorp has a twelve month low of $39.19 and a twelve month high of $53.33.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.98 by ($0.01). The company had revenue of $184.48 million for the quarter, compared to the consensus estimate of $185.35 million. NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. Research analysts expect that NBT Bancorp will post 4.14 EPS for the current year.

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, June 1st. NBT Bancorp's payout ratio is presently 42.17%.

Insiders Place Their Bets

In other NBT Bancorp news, Director Heidi M. Hoeller sold 2,100 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $48.03, for a total transaction of $100,863.00. Following the completion of the sale, the director owned 11,560 shares of the company's stock, valued at $555,226.80. This represents a 15.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ruth H. Mahoney sold 5,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $46.60, for a total transaction of $233,000.00. Following the completion of the transaction, the executive vice president owned 16,428 shares in the company, valued at $765,544.80. The trade was a 23.33% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.99% of the company's stock.

Institutional Trading of NBT Bancorp

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in shares of NBT Bancorp by 1,645.9% during the second quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank's stock valued at $27,000 after buying an additional 609 shares during the period. Larson Financial Group LLC boosted its holdings in NBT Bancorp by 13,316.7% in the third quarter. Larson Financial Group LLC now owns 805 shares of the bank's stock valued at $34,000 after acquiring an additional 799 shares in the last quarter. Bessemer Group Inc. boosted its holdings in NBT Bancorp by 63.8% in the first quarter. Bessemer Group Inc. now owns 832 shares of the bank's stock valued at $35,000 after acquiring an additional 324 shares in the last quarter. Western Wealth Management LLC purchased a new position in NBT Bancorp during the 1st quarter valued at $37,000. Finally, Global Retirement Partners LLC raised its holdings in NBT Bancorp by 62.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank's stock worth $43,000 after purchasing an additional 399 shares in the last quarter. 58.46% of the stock is owned by institutional investors.

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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