NBT Bancorp Inc. (NASDAQ:NBTB) Given Average Recommendation of “Moderate Buy” by Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $51.75.

Several research firms recently issued reports on NBTB. Keefe, Bruyette & Woods increased their price target on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. DA Davidson started coverage on NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price target on the stock. 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.

Insider Transactions at NBT Bancorp

In other news, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $51.31, for a total value of $25,655.00. Following the sale, the executive vice president now owns 27,409 shares in the company, valued at approximately $1,406,355.79. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sarah A. Halliday sold 5,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction of $242,250.00. Following the transaction, the executive vice president now directly owns 25,564 shares of the company’s stock, valued at $1,238,575.80. This represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,694 shares of company stock valued at $277,935. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NBT Bancorp

Several large investors have recently modified their holdings of NBTB. Eagle Asset Management Inc. grew its holdings in NBT Bancorp by 76.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock worth $16,759,000 after acquiring an additional 163,952 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of NBT Bancorp by 55.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank’s stock worth $9,946,000 after purchasing an additional 80,232 shares during the period. Landscape Capital Management L.L.C. bought a new stake in NBT Bancorp in the third quarter valued at about $439,000. Barclays PLC lifted its stake in NBT Bancorp by 41.8% in the third quarter. Barclays PLC now owns 91,880 shares of the bank’s stock valued at $4,064,000 after buying an additional 27,085 shares during the period. Finally, Geode Capital Management LLC lifted its stake in NBT Bancorp by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after buying an additional 10,628 shares during the period. 58.46% of the stock is currently owned by institutional investors.

NBT Bancorp Stock Down 2.3 %

Shares of NASDAQ:NBTB opened at $43.32 on Tuesday. NBT Bancorp has a 12-month low of $32.79 and a 12-month high of $52.44. The business has a 50-day moving average price of $47.24 and a 200 day moving average price of $47.21. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 14.64 and a beta of 0.48. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same quarter last year, the business earned $0.72 EPS. Sell-side analysts expect that NBT Bancorp will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Monday, March 3rd. NBT Bancorp’s payout ratio is 45.95%.

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.