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

NBT Bancorp Inc. (NASDAQ:NBTB) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $51.50.

NBTB has been the topic of several analyst reports. Hovde Group cut their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a research report on Monday, April 27th. Piper Sandler upped their target price on NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday. Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, DA Davidson reaffirmed a “buy” rating and set a $52.00 target price on shares of NBT Bancorp in a research report on Monday, April 27th.

NBT Bancorp Trading Up 0.7%

Shares of NASDAQ:NBTB opened at $49.59 on Monday. The stock’s 50-day simple moving average is $45.91 and its two-hundred day simple moving average is $44.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp has a 52-week low of $39.19 and a 52-week high of $49.98. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 14.13 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. The business had revenue of $184.48 million for the quarter, compared to the consensus estimate of $185.36 million. Analysts expect that NBT Bancorp will post 4.15 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.37 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.0%. NBT Bancorp’s dividend payout ratio is presently 42.17%.

Insider Transactions at NBT Bancorp

In other news, Director Heidi M. Hoeller sold 2,100 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $48.03, for a total value of $100,863.00. Following the sale, the director owned 11,560 shares in the company, valued at $555,226.80. This represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ruth H. Mahoney sold 5,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $46.60, for a total value of $233,000.00. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. 2.99% of the stock is owned by corporate insiders.

Institutional Trading of NBT Bancorp

A number of hedge funds have recently modified their holdings of the stock. Tudor Investment Corp ET AL purchased a new position in NBT Bancorp during the third quarter worth approximately $4,886,000. SG Americas Securities LLC boosted its position in NBT Bancorp by 195.7% during the fourth quarter. SG Americas Securities LLC now owns 71,852 shares of the bank’s stock worth $2,983,000 after purchasing an additional 47,550 shares in the last quarter. JPMorgan Chase & Co. boosted its position in NBT Bancorp by 26.7% during the third quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock worth $13,986,000 after purchasing an additional 70,594 shares in the last quarter. Financial Planning Hawaii Inc. purchased a new position in NBT Bancorp during the fourth quarter worth approximately $641,000. Finally, IFP Advisors Inc boosted its position in NBT Bancorp by 85,479.3% during the fourth quarter. IFP Advisors Inc now owns 24,818 shares of the bank’s stock worth $1,030,000 after purchasing an additional 24,789 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

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.