Brokerages Set NBT Bancorp Inc. (NASDAQ:NBTB) Target Price at $51.75

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have received an average recommendation of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $51.75.

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a research report on Wednesday, January 29th. StockNews.com downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Finally, DA Davidson began coverage on NBT Bancorp in a research note on Thursday, December 12th. They issued a “neutral” rating and a $60.00 target price for the company.

Insider Activity

In related news, Director Heidi M. Hoeller purchased 678 shares of NBT Bancorp stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $48.45 per share, with a total value of $32,849.10. Following the transaction, the director now owns 6,437 shares in the company, valued at approximately $311,872.65. The trade was a 11.77 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Amy Wiles sold 500 shares of the firm’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 of the company’s stock, valued at $1,406,355.79. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,694 shares of company stock worth $277,935 in the last three months. Company insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in NBT Bancorp by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock worth $49,477,000 after buying an additional 10,628 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new position in shares of NBT Bancorp in the 4th quarter worth approximately $52,606,000. Silvercrest Asset Management Group LLC acquired a new position in NBT Bancorp during the 4th quarter worth about $38,978,000. Northern Trust Corp lifted its holdings in NBT Bancorp by 4.9% during the 4th quarter. Northern Trust Corp now owns 726,413 shares of the bank’s stock worth $34,693,000 after buying an additional 33,855 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in NBT Bancorp by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 683,253 shares of the bank’s stock valued at $32,632,000 after purchasing an additional 75,693 shares during the period. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Price Performance

NASDAQ NBTB opened at $43.32 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 14.64 and a beta of 0.48. The business has a 50 day simple moving average of $47.24 and a 200 day simple moving average of $47.21. NBT Bancorp has a 52-week low of $32.79 and a 52-week high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same period in the prior year, the business earned $0.72 earnings per share. Analysts anticipate that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.34 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.36 annualized dividend and a yield of 3.14%. NBT Bancorp’s dividend payout ratio (DPR) is 45.95%.

About NBT Bancorp

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.