NBT Bancorp Inc. (NASDAQ:NBTB) Receives $42.25 Consensus Target Price from Analysts

NBT Bancorp Inc. (NASDAQ:NBTB) has received a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $41.60.

Several research analysts have recently weighed in on NBTB shares. Keefe, Bruyette & Woods lowered their price objective on shares of NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Piper Sandler cut their price objective on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. Janney Montgomery Scott raised shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Thursday, March 21st. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective for the company in a report on Wednesday, February 14th. Finally, Raymond James upped their price target on shares of NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 5th.

Insider Buying and Selling at NBT Bancorp

In other news, CFO Scott Allen Kingsley acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was bought at an average cost of $36.80 per share, for a total transaction of $36,800.00. Following the completion of the transaction, the chief financial officer now directly owns 25,513 shares in the company, valued at approximately $938,878.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Lowell A. Seifter sold 3,230 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $36.96, for a total transaction of $119,380.80. Following the completion of the sale, the director now directly owns 49,132 shares in the company, valued at $1,815,918.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Scott Allen Kingsley acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were purchased at an average price of $36.80 per share, with a total value of $36,800.00. Following the completion of the transaction, the chief financial officer now owns 25,513 shares of the company’s stock, valued at $938,878.40. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 8,641 shares of company stock worth $319,806. 3.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of NBT Bancorp by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 513,545 shares of the bank’s stock valued at $16,274,000 after purchasing an additional 31,876 shares in the last quarter. Northern Trust Corp lifted its position in shares of NBT Bancorp by 5.7% during the third quarter. Northern Trust Corp now owns 741,141 shares of the bank’s stock valued at $23,487,000 after purchasing an additional 39,912 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of NBT Bancorp by 11.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 504,681 shares of the bank’s stock valued at $15,993,000 after purchasing an additional 51,671 shares in the last quarter. Graham Capital Management L.P. bought a new position in shares of NBT Bancorp during the third quarter valued at about $676,000. Finally, HighTower Advisors LLC bought a new position in shares of NBT Bancorp during the third quarter valued at about $855,000. 58.46% of the stock is owned by institutional investors.

NBT Bancorp Trading Up 3.3 %

Shares of NASDAQ NBTB opened at $36.74 on Thursday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 13.81 and a beta of 0.50. NBT Bancorp has a twelve month low of $27.52 and a twelve month high of $43.77. The company’s fifty day moving average is $35.26 and its 200-day moving average is $35.79. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.18.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.02). NBT Bancorp had a net margin of 17.86% and a return on equity of 11.10%. The business had revenue of $137.66 million during the quarter, compared to analyst estimates of $138.87 million. Equities research analysts predict that NBT Bancorp will post 2.89 EPS for the current year.

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.48%. The ex-dividend date was Thursday, February 29th. NBT Bancorp’s dividend payout ratio (DPR) is currently 48.12%.

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.