NBT Bancorp (NASDAQ:NBTB) Now Covered by Piper Sandler

Analysts at Piper Sandler started coverage on shares of NBT Bancorp (NASDAQ:NBTB - Get Free Report) in a research note issued to investors on Tuesday. The brokerage set a "neutral" rating and a $47.00 price target on the bank's stock. Piper Sandler's price objective would indicate a potential upside of 8.09% from the company's current price.

A number of other equities research analysts also recently weighed in on NBTB. DA Davidson lowered their price target 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. Hovde Group initiated coverage on NBT Bancorp in a report on Friday, March 21st. They issued a "market perform" rating and a $50.00 price objective on the stock. Finally, Wall Street Zen downgraded NBT Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $51.60.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock traded up $0.18 during trading hours on Tuesday, reaching $43.48. The company had a trading volume of 21,231 shares, compared to its average volume of 239,662. The firm has a market cap of $2.05 billion, a PE ratio of 14.40 and a beta of 0.57. NBT Bancorp has a one year low of $37.31 and a one year high of $52.44. The business has a fifty day simple moving average of $42.25 and a 200 day simple moving average of $44.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.86 and a quick ratio of 0.86.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. NBT Bancorp had a return on equity of 9.57% and a net margin of 17.99%. The company had revenue of $155.31 million during the quarter, compared to analyst estimates of $151.00 million. During the same quarter last year, the company earned $0.68 earnings per share. On average, analysts anticipate that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Heidi M. Hoeller acquired 2,588 shares of NBT Bancorp stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average cost of $42.88 per share, for a total transaction of $110,973.44. Following the purchase, the director directly owned 11,578 shares of the company's stock, valued at approximately $496,464.64. This trade represents a 28.79% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John H. Watt, Jr. sold 7,869 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the completion of the sale, the director owned 116,027 shares of the company's stock, valued at $4,875,454.54. This trade represents a 6.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 5,491 shares of company stock worth $235,674. Insiders own 3.03% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Harbor Investment Advisory LLC bought a new position in NBT Bancorp in the 2nd quarter worth $151,000. Voya Investment Management LLC raised its position in shares of NBT Bancorp by 28.3% during the 1st quarter. Voya Investment Management LLC now owns 80,158 shares of the bank's stock valued at $3,439,000 after buying an additional 17,677 shares in the last quarter. Ellsworth Advisors LLC purchased a new stake in shares of NBT Bancorp during the 1st quarter valued at about $606,000. Mendon Capital Advisors Corp purchased a new stake in shares of NBT Bancorp during the 1st quarter valued at about $620,000. Finally, Jane Street Group LLC raised its position in NBT Bancorp by 1,188.4% in the 1st quarter. Jane Street Group LLC now owns 88,284 shares of the bank's stock worth $3,787,000 after purchasing an additional 81,432 shares during the period. Institutional investors 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.

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