Brokerages Set NBT Bancorp Inc. (NASDAQ:NBTB) Target Price at $41.60

NBT Bancorp Inc. (NASDAQ:NBTB) has received a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $41.60.

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

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $34.61 on Monday. 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 company has a market cap of $1.63 billion, a price-to-earnings ratio of 13.01 and a beta of 0.51. The stock’s 50-day moving average is $34.72 and its 200-day moving average is $36.12.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $138.87 million. Equities analysts anticipate that NBT Bancorp will post 2.89 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.32 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.28 dividend on an annualized basis and a yield of 3.70%. NBT Bancorp’s dividend payout ratio (DPR) is presently 48.12%.

Insiders Place Their Bets

In other news, Director Lowell A. Seifter sold 4,770 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $37.50, for a total transaction of $178,875.00. Following the completion of the transaction, the director now directly owns 44,362 shares in the company, valued at approximately $1,663,575. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other NBT Bancorp news, CFO Scott Allen Kingsley acquired 1,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was purchased at an average price of $36.80 per share, with a total value of $36,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 25,513 shares in the company, valued at approximately $938,878.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lowell A. Seifter sold 4,770 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $37.50, for a total transaction of $178,875.00. Following the sale, the director now directly owns 44,362 shares in the company, valued at $1,663,575. The disclosure for this sale can be found here. Insiders have sold 8,641 shares of company stock worth $319,806 in the last three months. 3.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. boosted its holdings in shares of NBT Bancorp by 11.8% during the first quarter. Citigroup Inc. now owns 38,245 shares of the bank’s stock valued at $1,382,000 after acquiring an additional 4,022 shares during the period. MetLife Investment Management LLC boosted its stake in NBT Bancorp by 59.9% during the 1st quarter. MetLife Investment Management LLC now owns 22,390 shares of the bank’s stock valued at $809,000 after purchasing an additional 8,387 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in NBT Bancorp by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,372 shares of the bank’s stock worth $1,350,000 after purchasing an additional 4,608 shares during the last quarter. BlackRock Inc. increased its stake in shares of NBT Bancorp by 0.9% in the first quarter. BlackRock Inc. now owns 6,393,473 shares of the bank’s stock valued at $230,994,000 after purchasing an additional 56,332 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in shares of NBT Bancorp by 4.8% during the first quarter. Great West Life Assurance Co. Can now owns 39,122 shares of the bank’s stock valued at $1,449,000 after buying an additional 1,782 shares during the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

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.