NBT Bancorp Inc. (NASDAQ:NBTB) Receives $41.20 Average Price Target from Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are 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 price objective among brokers that have covered the stock in the last year is $41.20.

Several analysts have recently issued reports on NBTB shares. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of NBT Bancorp in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods lowered their price target on NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Finally, Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Thursday, March 21st.

NBT Bancorp Price Performance

Shares of NBTB opened at $35.07 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $1.65 billion, a PE ratio of 13.54 and a beta of 0.52. The firm’s 50 day moving average price is $36.09 and its 200 day moving average price is $36.86. NBT Bancorp has a twelve month low of $30.31 and a twelve month high of $43.77.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $192.33 million for the quarter, compared to the consensus estimate of $135.01 million. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. During the same quarter last year, the firm earned $0.88 EPS. As a group, research analysts expect that NBT Bancorp will post 2.84 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Friday, May 31st. NBT Bancorp’s dividend payout ratio is presently 49.42%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Longfellow Investment Management Co. LLC acquired a new position in shares of NBT Bancorp in the 3rd quarter valued at $27,000. Register Financial Advisors LLC acquired a new stake in NBT Bancorp during the first quarter valued at approximately $27,000. Blue Trust Inc. raised its holdings in shares of NBT Bancorp by 69.9% in the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock worth $28,000 after buying an additional 276 shares in the last quarter. Asset Dedication LLC acquired a new position in NBT Bancorp during the third quarter worth $37,000. Finally, Bare Financial Services Inc bought a new stake in NBT Bancorp during the fourth quarter worth about $98,000. 58.46% of the stock is owned by institutional investors.

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.