NBT Bancorp (NASDAQ:NBTB) Price Target Lowered to $39.00 at Keefe, Bruyette & Woods

NBT Bancorp (NASDAQ:NBTB) had its price target cut by research analysts at Keefe, Bruyette & Woods from $41.00 to $39.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 9.83% from the company’s previous close.

Several other research firms have also issued reports on NBTB. Stephens restated an “overweight” rating and set a $42.00 price target on shares of NBT Bancorp in a research report on Tuesday. Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Thursday, March 21st. Piper Sandler lowered their price objective on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Finally, Raymond James upped their price objective on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.20.

NBT Bancorp Trading Down 1.4 %

NASDAQ NBTB traded down $0.51 during trading on Wednesday, hitting $35.51. 41,864 shares of the company’s stock traded hands, compared to its average volume of 206,852. The stock has a fifty day moving average of $34.77 and a two-hundred day moving average of $36.23. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.86 and a quick ratio of 0.86. NBT Bancorp has a 12-month low of $27.52 and a 12-month high of $43.77. The firm has a market cap of $1.67 billion, a P/E ratio of 13.62 and a beta of 0.51.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.41%. The business had revenue of $192.33 million during the quarter, compared to analyst estimates of $135.01 million. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, sell-side analysts expect that NBT Bancorp will post 2.89 EPS for the current year.

Insider Activity

In other news, CFO Scott Allen Kingsley acquired 1,000 shares of the stock in a transaction dated Thursday, January 25th. The stock was purchased at an average cost of $36.80 per share, with a total value of $36,800.00. Following the completion of the purchase, the chief financial officer now owns 25,513 shares in the company, valued at approximately $938,878.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Scott Allen Kingsley purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was bought at an average cost of $36.80 per share, with a total value of $36,800.00. Following the completion of the purchase, the chief financial officer now directly owns 25,513 shares in the company, valued at $938,878.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lowell A. Seifter sold 3,230 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $36.96, for a total transaction of $119,380.80. Following the completion of the transaction, the director now directly owns 49,132 shares of the company’s stock, valued at $1,815,918.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,641 shares of company stock valued at $319,806. Insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in shares of NBT Bancorp by 69.9% during the fourth quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after purchasing an additional 276 shares in the last quarter. Beacon Pointe Advisors LLC increased its stake in shares of NBT Bancorp by 2.2% during the fourth quarter. Beacon Pointe Advisors LLC now owns 18,103 shares of the bank’s stock valued at $759,000 after purchasing an additional 394 shares in the last quarter. Yousif Capital Management LLC increased its stake in shares of NBT Bancorp by 1.7% during the third quarter. Yousif Capital Management LLC now owns 24,274 shares of the bank’s stock valued at $769,000 after purchasing an additional 395 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of NBT Bancorp by 4.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 14,014 shares of the bank’s stock valued at $444,000 after purchasing an additional 600 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its holdings in shares of NBT Bancorp by 4.1% during the third quarter. Maryland State Retirement & Pension System now owns 17,396 shares of the bank’s stock valued at $551,000 after buying an additional 681 shares during the last quarter. 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.