NBT Bancorp Inc. (NASDAQ:NBTB) Receives Average Rating of “Moderate Buy” from Analysts

NBT Bancorp Inc. (NASDAQ:NBTB) has been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $48.17.

Several research firms have recently commented on NBTB. Stephens reaffirmed an “equal weight” rating and issued a $49.00 price objective on shares of NBT Bancorp in a report on Tuesday, September 10th. StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Keefe, Bruyette & Woods increased their price target on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson assumed coverage on NBT Bancorp in a report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 price objective for the company.

NBT Bancorp Stock Down 4.7 %

NASDAQ:NBTB opened at $48.46 on Thursday. The company’s 50 day moving average is $48.11 and its two-hundred day moving average is $44.80. The company has a market cap of $2.29 billion, a PE ratio of 17.06 and a beta of 0.52. NBT Bancorp has a twelve month low of $32.79 and a twelve month high of $52.44. 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 announced its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period in the previous year, the company earned $0.84 earnings per share. Analysts anticipate that NBT Bancorp will post 2.94 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.34 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.36 annualized dividend and a dividend yield of 2.81%. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.89%.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 500 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the sale, the executive vice president now directly owns 27,409 shares in the company, valued at $1,406,355.79. This represents a 1.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John H. Watt, Jr. sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total value of $909,000.00. Following the completion of the sale, the director now directly owns 143,101 shares of the company’s stock, valued at $6,503,940.45. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,694 shares of company stock valued at $4,048,185 over the last quarter. 3.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in NBT Bancorp by 540.2% in the second quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank’s stock valued at $27,147,000 after acquiring an additional 593,436 shares during the last quarter. Bank of New York Mellon Corp raised its position in NBT Bancorp by 36.7% in the second quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank’s stock valued at $24,307,000 after purchasing an additional 169,180 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of NBT Bancorp by 76.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank’s stock valued at $16,759,000 after purchasing an additional 163,952 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of NBT Bancorp by 14.9% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank’s stock worth $31,978,000 after purchasing an additional 107,404 shares during the period. Finally, Ceredex Value Advisors LLC increased its position in shares of NBT Bancorp by 40.9% during the 3rd quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank’s stock worth $13,680,000 after purchasing an additional 89,800 shares during the last quarter. Institutional investors and hedge funds 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.