NBT Bancorp (NASDAQ:NBTB) Given "Buy" Rating at DA Davidson

Key Points

• DA Davidson reiterated a "Buy" on NBT Bancorp with a $52 price target, implying about an 18% upside
• NBT reported Q1 EPS of $0.97 (missed by $0.01) and revenue of $184.48M (slightly below estimates); the stock traded at $44.05 (+1.9%), with a market cap of $2.29B and a P/E of 12.54.
• Insider activity was mixed: Director Timothy Delaney purchased 22,730 shares (~$977K) increasing his holding, while EVP Amy Wiles sold 4,435 shares; insiders own 2.99% and institutional investors hold 58.46% of the stock.

NBT Bancorp (NASDAQ:NBTB - Get Free Report)'s stock had its "buy" rating reiterated by DA Davidson in a note issued to investors on Monday,Benzinga reports. They currently have a $52.00 target price on the bank's stock. DA Davidson's price target suggests a potential upside of 18.04% from the company's current price.

A number of other analysts have also issued reports on the stock. Brean Capital lowered shares of NBT Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Piper Sandler assumed coverage on shares of NBT Bancorp in a report on Monday, March 16th. They issued an "overweight" rating and a $50.00 price objective for the company. Janney Montgomery Scott downgraded shares of NBT Bancorp from a "buy" rating to a "neutral" rating in a report on Monday, February 23rd. Weiss Ratings raised shares of NBT Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. Finally, Hovde Group decreased their price objective on shares of NBT Bancorp from $47.00 to $46.50 and set a "market perform" rating for the company in a report on Monday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, NBT Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $49.50.

NBT Bancorp Stock Up 1.9%

Shares of NBTB traded up $0.80 during mid-day trading on Monday, reaching $44.05. 84,792 shares of the stock traded hands, compared to its average volume of 227,291. 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 stock has a fifty day simple moving average of $43.40 and a 200 day simple moving average of $42.79. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 12.54 and a beta of 0.47. NBT Bancorp has a 12-month low of $39.19 and a 12-month high of $46.92.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $185.36 million. NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%. Sell-side analysts expect that NBT Bancorp will post 4.17 EPS for the current fiscal year.

Insider Buying and Selling at NBT Bancorp

In other news, EVP Amy Wiles sold 4,435 shares of the business's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $45.72, for a total transaction of $202,768.20. Following the completion of the transaction, the executive vice president owned 21,500 shares of the company's stock, valued at approximately $982,980. The trade was a 17.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy E. Delaney purchased 22,730 shares of NBT Bancorp stock in a transaction dated Wednesday, January 28th. The shares were purchased at an average cost of $42.97 per share, with a total value of $976,708.10. Following the acquisition, the director owned 74,615 shares of the company's stock, valued at approximately $3,206,206.55. This trade represents a 43.81% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 2.99% of the company's stock.

Institutional Investors Weigh In On NBT Bancorp

Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC boosted its stake in NBT Bancorp by 4.2% in the 1st quarter. Private Advisor Group LLC now owns 5,809 shares of the bank's stock worth $247,000 after purchasing an additional 233 shares during the period. Amalgamated Bank boosted its stake in NBT Bancorp by 1.9% in the 3rd quarter. Amalgamated Bank now owns 14,993 shares of the bank's stock worth $626,000 after purchasing an additional 282 shares during the period. Inspire Investing LLC boosted its stake in NBT Bancorp by 2.9% in the 4th quarter. Inspire Investing LLC now owns 11,257 shares of the bank's stock worth $467,000 after purchasing an additional 315 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of NBT Bancorp by 1.4% in the 4th quarter. State of Alaska Department of Revenue now owns 28,929 shares of the bank's stock valued at $1,200,000 after purchasing an additional 397 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in shares of NBT Bancorp by 62.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank's stock valued at $43,000 after purchasing an additional 399 shares during the period. Institutional investors and hedge funds own 58.46% of the company's stock.

NBT Bancorp Company Profile

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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